30,000 TONNE BINDING MONAZITE CONCENTRATE OFFTAKE SECURED AHEAD OF DECEMBER PRODUCTION

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10 Nov, 2026, 07:29 IST

PERTH, Australia, Nov. 10, 2026 /PRNewswire/ -- Lindian Resources Limited ("Lindian" or the "Company") (ASX: LIN) is pleased to announce that its wholly owned subsidiary in Singapore, Lindian Global Rare Earths Pte. Ltd ("Lindian Global"), has executed a binding Offtake Term Sheet ("Binding Term Sheet" or "Offtake") with a major rare earths refining group^[1].

The binding offtake of Monazite Concentrate from the Company's flagship Kangankunde Rare Earths Project ("Kangankunde" or the "Project") incorporates both Stage 1 volumes for 10,000 dry metric tonnes ("dmt") and Stage 2 for 20,000dmt per annum. Together with the previously announced Offtake Agreements with Iluka Resources^[2] in Australia, and Carester in France^[3], Lindian has now developed a diversified global customer base, with 45,000dmt having also been secured for Stage 2 expansion.

HIGHLIGHTS:

Binding Offtake Term Sheet executed for 30,000dmt, including 10,000dmt per annum (Stage 1) and 20,000dmt per annum (Stage 2) with a major refining group with well-established rare earth chloride and solvent extraction operations.
First container sea freight from Nacala Port in January 2027 with monthly deliveries of Kangankunde Monazite Concentrate thereafter.
Geographic and product diversification (Monazite Concentrate, Mixed Rare Earths Carbonate ("MREC") and SEGH), with multiple counterparties de-risks Lindian's revenue profile.
Validation of strong demand for Kangankunde high-grade Monazite Concentrate at 55% Total Rare Earth Oxide ("TREO") grade with no deleterious elements and low levels of radionuclides (uranium and thorium).
Strong basket price including 10 rare earth elements including neodymium ("Nd"), praseodymium ("Pr"), dysprosium ("Dy"), terbium ("Tb"), cerium ("Ce"), lanthanum ("La"), samarium ("SM"), europium ("Eu"), gadolinium ("Gd") and yttrium ("Y").
Market-linked pricing including freight and insurance with further upside participation to REO price increases. Magnetic Rare Earth Oxides ("MREOs"), Nd, Pr, Dy and Tb represent majority of the product revenue for Monazite Concentrate.
Stage 2 allocation now sits at 45,000dmt^[4] of Monazite Concentrate demonstrating a strong pipeline past Stage 1 development.
Additional strong interests from North American permanent magnet manufacturers and refineries for Monazite Concentrate, MREC and SEGH products.

Lindian's Executive Chairman, Robert Martin, commented:

"This binding Term Sheet represents another significant milestone for Lindian, with Kangankunde Stage 1 Concentrate capacity now fully allocated between our offtake partners and our own SARECO MREC facility, and with over 45,000dmt of Stage 2 volumes procured. With high-quality customers across multiple supply chains, we have established a truly global offtake portfolio ahead of first production in December.

We are looking forward to working closely with our potential partners and the Malawian and Kazakhstan governments to finalise the remaining stage 2 offtakes for Kangankunde and to choosing our offtake partners for our SARECO MREC product".

Read the full ASX announcement here: https://asx.api.cmfyapp.com/asx-research/1.0/file/2924-03159876-6A1354288&v=undefined

^[1] A description of the counterparty is set out in the Key Terms of the Binding Offtake Term Sheet on page 3.

^[2] Refer ASX announcement "Strategic Partnership with Iluka for Funding and Offtake" dated 6 August 2025.

^[3] Refer ASX announcement "Strategic Partnership with Carester for Oxide Separation Development and 10-Year Offtake Agreement" 3-Sep-26.

^[4] Refer ASX Announcement "Strategic Partnership with Iluka for Funding and Offtake" dated 6 August 2025. 45,000dmt per annum Stage 2 allocation includes 20,000dmt per annum under the binding Offtake Term Sheet announced herein and up to 25,000dmt per annum covered by Iluka Resources' Right of First Refusal in respect of Stage 2 expansion volumes.