Australian-based Lindian Resources has acquired 75pc stakes in the Lelouma Bauxite project in Guinea from Sarmin Bauxite. The deal, however, is awaiting regulatory approval.
The Guinean mine is estimated to have 900mn mt of minerals, of which, 45pc is expected to be aluminium oxide (AL2O3) and 2.1pc silicon dioxide (SiO2). Of this, 398mn mt has 48.1pc of aluminium oxide, 155mn mt with 47.9pc aluminium oxide and 1.8pc silicon dioxide, and 115m mt reserves which have 49.6pc aluminium dioxide and 1.8pc silicon dioxide. Lindian Resources will spend $10mn on this project.
Due to low silica and the absence of other contaminates, the company expects to produce ore ready to be shipped without processing. Lindian Resources plans to export ore to the Atlantic and Pacific markets.
Lindian’s management is considering road and infrastructure development for both Gaoual and Lelouma projects.