Lindian Resources has completed a binding stock purchase agreement (SPA) to acquire the remaining 25% interest in bauxite from its minority partners and secures full ownership of the Lelouma Bauxite project in Guinea.

Lelouma Project, which was invested by previous owners over $10 million, is located near important infrastructure including the railway line and the port of Kamsar.

The project's JORC is 900 million tons (MT), with alumina aluminum-alumina content of 45%, and carbon dioxide silica 2.1%.

The Lelouma project targets the production of direct transport ore (DSO), thus eliminating the need for processing.

The full ownership of the project eliminates the risk of ownership dilution and financial commitments related to the initial acquisition.

Lindian will implement a new domestic management team to handle regulatory approvals, project development, and negotiations with potential port and infrastructure partners.

After strategic review and two months of negotiations, Lindian and his minority partners agreed to the spa, which included issuance of 20 million shares and a 1% royalty to the seller.

The shares will be voluntarily custodial within six months of the issuance. The completion of the spa is expected to allow Lindian to focus on the project without previous conditions within 14 days of signing.

"The company is pleased to re-establish 100% ownership of this world-class asset and we can now invest in the ongoing development of the project without time limits, multi-million-dollar milestones and minority partners.

“With the demand for aluminum and its related products in electric vehicle production, the market is estimated to reach about $18.5 billion by 2030, and the company believes that the Lelouma project with approximately 900mt of premium materials may be a big part of it.

“The company is also in discussions with a new team of domestic bauxite experts to develop the Lelouma project independently of the development of the Lelouma project, which allows the company to fully focus on our commitment to focus on production in 2026.”

Earlier this month, Lindian Resources began early on-site work on the Kangankunde Rare Earth project in Malawi.

Originally created and published by Mining Technology, a brand owned by GlobalData, the “full ownership of the Lelouma Bauxite Project in Guinea”.

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