Australia’s mining company Lindian Resources has finalized a binding share purchase agreement (SPA) to acquire the remaining 25% stake in Bauxite Holding from its minority shareholders, giving it full control of the Lelouma bauxite project in Guinea. This move eliminates the ownership dilution and financial risk associated with the initial acquisition.

The Lelouma project is close to important infrastructure such as the railway and Kamsar Port, and more than US$10 million has been invested by previous owners.

The project has a JORC-compliant mineral resource of 900 million tons grading 45% aluminum oxide and 2.1% silicon dioxide. The Lelouma project is designed to produce direct shipping ore (DSO), which would eliminate the need for processing.