Australian mineral exploration firm Lindian Resources Limited obtained the Guinean government’s sign-off to take title to 61 percent of the Woula bauxite project this week.
The terms of the deal allow Lindian to take a further 14 percent by funding a JORC-compliant feasibility or scoping study at the site in the first 18 months of the agreement. Lindian indicated that it would begin one or the other next spring.
The Woula project is just over 6 miles from existing infrastructure and consists of an estimated 19 million metric tons of bauxite with a content of 41.7 percent aluminium oxide. All together the ore is under 40 miles from the Katougouma bauxite export terminal, which is owned and operated by China’s SMB.
Lindian was quick to point out that Guinea’s government enforces a generous infrastructure-sharing policy, implying that a deal to use the road and port facilities is likely to happen. The firm says it will initiate talks to share infrastructure presently, and it expects to ship around one million metric tons of bauxite ore from Woula per annum.
Lindian’s Chair Asimwe Kabunga told Australian media that the project was a critical piece of his firm’s overall plan.
“The Woula project is important strategically to Lindian’s bauxite assets in Guinea, and our broader vision and ambitions, which is to bring into production the larger, multi-generational bauxite assets, the very high-grade conglomerate bauxite Gaoual project and the world-class Lelouma project.”
The Lelouma project consists of an estimated 900 million metric tons of bauxite, with 398 million metric tons consisting of higher-grade bauxite. Meanwhile, Gaoul is an operation to extract an estimated 101.5 million metric tons of bauxite ore, with 84 million metric tons of it estimated to be high-grade bauxite.
Based in Perth, Lindian owns several mining licenses for gold in two outcroppings in Tanzania in addition to the tenements granted for the Lushoto Bauxite Project in 2018.