Perth – September 08, 2026 -- Lindian Resources (ASX:LIN) has signed a binding 20-year offtake agreement with French rare earths specialist Carester SAS, securing 70% of the mixed heavy rare earth SEGH output from its Kazakhstan operations and a right of first refusal on 70% of MHREC production.
Carester commits to definitive feasibility study for 8,000 tpa Kazakhstan separation plant
Carester, working with Tetra Tech Coffey, will complete a definitive feasibility study by the fourth quarter of 2026 for a new solvent-extraction and oxide-separation facility at Stepnogorsk, Kazakhstan, with nominal capacity of 8,000 tonnes per year of rare earth oxides.
Offtake pricing tied to Caremag's French refinery and government floor prices
The agreement links pricing for MHREC and SEGH to prices realized by Carester, indexed to any government-set floor price in France, the broader EU, the United States or Japan for rare earth magnet oxides and yttrium produced at Carester's Caremag site in Lacq, France. Caremag is a joint venture between Japan's JOGMEC, Iwatani Corporation and Carester, backed by €216 million in French and Japanese funding, and targets roughly 15% of global dysprosium and terbium oxide output.
Spot prices lag Western forecasts for dysprosium, terbium and yttrium
Western pricing forecasts put dysprosium at $541 per kg, terbium at $1,988 per kg and yttrium at $383 per kg, compared with current Asian Metal spot prices of $249 per kg, $1,127 per kg and about $30 per kg, respectively.