Lindian Resources Ltd has secured 100% ownership of the Tier 1 Lelouma Bauxite Project in Guinea, following the execution of a binding Share Purchase Agreement (SPA) to acquire the remaining 25% interest in Bauxite Holding Ltd (formerly Sarmin Bauxite Limited).
The Lelouma Bauxite Project hosts a JORC-compliant Mineral Resource of 900 million tonnes at 45.0% aluminium oxide (Al₂O₃) and 2.1% silicon dioxide (SiO₂). This includes 398 million tonnes of measured and indicated resources at 48.1% aluminium oxide, featuring continuous zones of exceptional quality material exceeding 50% aluminium oxide. Of the total resource, 155 million tonnes are classified as Measured Resources at 47.9% aluminium oxide and 1.8% silicon dioxide (using a 40% aluminium oxide cut-off), with 115 million tonnes grading 49.6% aluminium oxide and 1.8% silicon dioxide (at a 45% aluminium oxide cut-off).
Lindian is targeting the production of Direct Shipping Ore (DSO), eliminating the need for processing or beneficiation. Full ownership removes near-term ownership dilution risk and financial obligations associated with the original acquisition terms.
The company plans to implement a new in-country management team to oversee regulatory approvals, project development, infrastructure studies, and offtake agreements. Discussions with potential port and infrastructure partners are well advanced.
The strategic acquisition follows a review by Lindian’s new Board, which identified that Performance Milestones under the original Investment Deed had not been met, risking a reduction to a 5% project interest. Given the tier-1 status of Lelouma in one of the world’s premier bauxite jurisdictions, the Board determined that securing full ownership was critical.
“The company is pleased to have resecured 100% ownership of this world class asset, we can now invest in the projects continued development unencumbered without time constraints, multimillion dollar milestone caveats and minority partners,” Lindian executive chairman Ronert martin said.
“With rising demand for aluminium and its related products in electric vehicle production with a market that is estimated to reach ~US$18.5b by 2030 the company believes that the Lelouma project with approximately 900 million tonnes of high grade material can be a big part of this.
“The company is also in discussions with a new in country bauxite team of experts to work independently on developing the Lelouma project which allows the Company to remain completely focused on our commitment to bringing our Kangankunde Rare earths project into production by 2026. We look forward to returning the true value of this tier one asset to our shareholders.”
Lelouma Project underpinned by strong resource base as asset review progresses
The Lelouma Project hosts an exceptional resource base and has benefited from systematic exploration, with over US$10 million invested by previous owners.
The plateau containing the Lelouma bauxite mineralisation is approximately 100 kilometres northeast of Sangarédi, the location of the loading area for the CBG railway line. This rail infrastructure connects to the port of Kamsar, situated a further 100 kilometres to the southwest, which exports 25 million tonnes of bauxite per year.
The Board is undertaking a comprehensive review of the company’s current tenement portfolio in Guinea and Tanzania.
As part of this process, non-core assets are expected to be relinquished or sold.
Lindian commences early-stage works at Kangankunde Rare Earths Project
Meanwhile, Lindian is continuing early-stage site works at its flagship Kangankunde Rare Earths Project in Malawi – a key milestone in the development of one of the world’s most significant undeveloped rare earths assets.
Read more: Lindian Resources begins early site works at Kangankunde rare earths project
The company has begun civil and infrastructure development activities as part of its strategy to fast-track Stage 1 construction and mitigate project risks. These works build on the February 2025 start of a 5-kilometre access road, which is advancing well ahead of schedule and is expected to be completed in the June quarter.