The collaboration centers on a Definitive Feasibility Study for a solvent extraction facility, with completion slated for late 2026. Under the 10-year binding agreement—which includes options for two five-year extensions—Carester will purchase 70% of the heavy rare earth production. This output is destined for the Caremag Refinery in Lacq, France, a project backed by significant funding from the Japan Organization for Metals and Energy Security (JOGMEC) and Iwatani Corporation.

Lindian’s executive chairman, Robert Martin, stated the move is critical to the firm’s strategy of capturing higher margins by shifting from raw concentrate production to separated magnet-grade oxides. The Stepnogorsk site was chosen for its existing infrastructure, including power, rail, and chemical supplies, which the company expects will provide a substantial competitive cost advantage. The Kazakh Ministry of Industry and Construction has formally backed the project, identifying it as a strategic pillar for the country’s ambition to become a major player in the global rare earth supply chain.