Lindian Resources (ASX:LIN) executed a technology and engineering services agreement and a long-term binding offtake agreement with Carester for the development of an oxide separation facility in Kazakhstan, according to a Thursday Australian bourse filing.

Carester will advance a definitive feasibility study for a new 8,000-tonne-per-year rare earth oxide nameplate capacity solvent extraction and oxide separation facility, targeted for completion in the fourth quarter of the year, the filing added.

The offtake agreement covers up to 20 years, comprising an initial 10-year term and two five-year extension options, for both a mixed heavy rare earths compound and right of first refusal for mixed heavy rare earths carbonate, with heavy rare earths product to be supplied to the Caremag Refinery in France, per the filing.

The company's shares fell almost 10% in recent Thursday trade.