MOU signed with Compagnie des Bauxites de Guinée for Gaoual Bauxite Project

4 September 2023

Lindian Resources Limited is pleased to confirm that it has signed a Memorandum of Understanding ('MOU') with Compagnie des Bauxites de Guinée (CBG), to explore the supply of bauxite from its Gaoual project to add to CBG's annual bauxite production through a possible sales contract between the Parties. The MOU provides the framework for the parties to:

  • Explore various methods of operating, processing and transporting ore from the Gaoual project to CBG's infrastructure;   
  • Assess procurement, quantity/quality determination, selling prices, selling price adjustment mechanisms, penalties/bonuses and payments between the Parties;
  • Complete a Feasibility Study for the Gaoual project within two years that meets CBG's JORC criteria for the publication of reserves and resources (including certain drilling density, bauxite density and does not contain any element harmful to a subsequent metallurgical process); and
  • The Parties will also negotiate in good faith a possible contract for the sale of bauxite within two years from the start date of this MOU.

Lindian also commits during its Feasibility Study, commissioning and operation phases to meet the requirements of the Aluminium Stewardship Initiative (ASI) Standard and also the International Finance Corporation performance standards of which CBG is bound. Lindian looks forward to working with CBG to advance this unique opportunity and to unlocking Gaoual's considerable value.