Australia's Lindian Resources gains on acquisition of MREC facility

SUMITOMO

10/08/2026 02:33

** Shares of Australia's Lindian Resources LIN.AX rise as much as 23.3% to A$0.860, heading for their strongest session since March 3
** Stock hits its highest level since July 10
** Mineral explorer acquires 100% of SARECO Mixed Rare Earths Carbonate (MREC) hydrometallurgical processing facility  in Stepnogorsk, Kazakhstan 
** Says co previously owned 51% stake in the MREC facility owned and operated by Japanese trading house Sumitomo Corp
** Says acquisition price $20 million cash
** Stock up 92.8% YTD, including session moves

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))