- Bauxite explorer Lindian Resources (LIN) has executed a memorandum of understanding with China Railway Seventh Group
- CRSG is an infrastructure construction company, and a wholly-owned subsidiary of the state-owned China Railway Group
- Under the MoU, Lindian and CRSG will consider infrastructure solutions around the company’s Woula, Gaoual, and Lelouma projects
- Engineers and management personnel from CRSG will visit Guinea soon in order to inspect Lindian’s bauxite projects and infrastructure
- Lindian Resources is up 3.57 per cent, trading at 2.9 cents per share
Bauxite explorer Lindian Resources (LIN) has executed a memorandum of understanding with China Railway Seventh Group.
China Railway Seventh Group (CRSG) is a wholly-owned subsidiary of the state-owned China Railway Group. It is a major infrastructure construction company based in Zhengshou, China, with a history of successful infrastructure work in Africa and the Middle East.
Under the MoU’s terms, Lindian Resources and CRSG will consider a formal agreement between the two companies. The formal agreement would be to determine infrastructure solutions relating to Lindian’s Woula, Gaoual, and Lelouma bauxite projects.
While exploring their options, the companies will consider the formation of an incorporated joint venture or consortium, and the potential long-term mutual benefit to both parties. Through its affiliates and related entities and partners, CRSG would potentially facilitate in-development financing and/or introduce offtake partners.
Lindian Resources’ Chairman, Asimwe Kabunga, commented on the company’s memorandum of understanding with China Railway Seventh Group.
“This is a very exciting development for Lindian and highlights our ability to attract high-calibre development partners,” he said.
“The China Railway Seventh Group discussions bring to the table the important milestone of the infrastructure solution, and we expect to now accelerate development as we enter this next stage of the company’s evolution,” he added.
Engineers and management personnel from CRSG will visit Guinea soon, in order to begin the next phase of the companies’ collaboration. This visit will include an inspection of Lindian’s bauxite project sites and related infrastructure.
Lindian Resources is up 3.57 per cent and trading at 2.9 cents per share at 12:39 pm AEDT.