Harena Rare Earths Secures $4.48M for Madagascar Project, Aims for 2028 Production Start

Published: Jul 30, 2026 16:49
[SMM Rare Earth Express] Harena Rare Earths announced that its Ampasindava rare earth project in Madagascar has received $4.48 million in funding from the U.S. International Development Finance Corporation (IDFC) to support pilot plant construction, laboratory testing, and environmental protection projects, laying the groundwork for subsequent financing. The Ampasindava ion-adsorption rare earth ore project plans to start production in mid-2028, with an expected annual output of approximately 4,000 mt of rare earth oxides, including about 1,700 mt of high-value magnetic rare earths such as Pr-Nd, dysprosium, and terbium, and a total investment of approximately $150 million. Harena is also evaluating building processing capacity in the US and Europe, and is in discussions with enterprises such as MP Materials, USA Rare Earth, and Solvay on cooperation.

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