Madagascar Delivers Exploitation License for Harena Rare Earths’ Ampasindava Project

On 12 October 2026, Harena Rare Earths (LSE: HREE) announced that it has received the exploitation permit for the Ampasindava Project. Harena intends to proceed with the Environmental and Socio-Economic Impact Assessment (ESIA) and to initiate public consultations ahead of developing the extraction and processing plant. The decision comes soon after Harena’s Chairman Ivan Murphy met with Malagasy President Michael Randrianirina in New York in the margins of the 81st UN General Assembly

The previous week, the US Embassy in Madagascar organized a celebration to mark this important milestone in the project development.As a matter of fact, the US International Development Finance Corporation (DFC) has committed USD 4.84 million for project preparations. The funding is earmarked to support the studies and a pilot plant.

According to the preliminary feasibility study, the Ampasindava Project has proven reserves of nearly 700 million tonnes of ores, equivalent to 0.6 million tonnes of total rare-earth oxides (TREO. The Project is expected to generate USD 220 million in mining revenues and USD 320 million in corporate tax revenue for Madagascar over the lifetime of the mine. Harena is targeting 2028 for commercial exploitation. For processing the #RareEarths, Harena is exploring partnerships with MP Materials and Solvay.

The Ampasindava Project is among the top Rare Earths assets in the world. Firstly, it contains several Rare Earth Elements (REE), including light Nd and Pr. and heavy Dy and Tb. Secondly, it is an ionic clay deposit, allowing for surface mining , and thus significantly lowering the costs of extraction.