【SMM Rare Earth Flash】 Australian rare earth developer Lindian Resources (ASX:LIN) has signed a technology and engineering services agreement and a binding long-term offtake agreement with French rare earth processor Carester. Under the technology agreement, Carester will complete a definitive feasibility study by December 2026 for an 8,000 t/y rare earth oxide separation facility at Lindian's Sareco plant in Stepnogorsk, Kazakhstan.
The offtake agreement has an initial 10-year term with two 5-year extension options, for up to 20 years total. Carester will purchase 70% of the mixed heavy rare earth compound (SEGH) production from Sareco and holds a right of first refusal over 70% of the dysprosium- and terbium-rich mixed heavy rare earth carbonate (MHREC).
This partnership strengthens Lindian's heavy rare earth (Dy, Tb) supply capabilities while complementing its light rare earth position from the Kangankunde project in Malawi. Kangankunde remains on track for first monazite concentrate production in Q4 2026, with Sareco also targeting MREC startup in the same quarter.



