Harena Resources Presents Ampasindava as the Rare Earths Mine that Can Tip the Scale Globally

At the Africa Down Under Conference 2025 (#ADU2025) which took place in Perth from 3 to 5 September 2025, Harena Resources presented the Ampasindava Project as a strategic asset that can actually ‘move the pendulum of rare earths on a global scale’. To put its money where its mouth is, Harena Resources (LSE: HREE) recentlyy issued a communique on 28 August 2025 to announce that it has completed the process to acquire the remaining 25% in the Ampasindava Rare Earths Mining Project in Madagascar to become the sole and full owner and to be able to take full advantage of its take-off.

In the same breath, Harena issued 66,666,666 new ordinary shares at GBP 0.50 each with its its Director of the Board Executive Technical Director, Allan Mulligan, holding 8.83% of the company. The Chairman of Harena, Ivan Murphy, underscored that the Ampasindava Mine is a world-class rare-earth project that is stratetegically important.

The Ampasindava mine is of the ionic adsorption clay (#IAC) type which makes it particularly attractive in terms of cost-efficiency. The mine contains nearly 700 million tonnes of Total Rare Earth Oxides (TREO) at 868 ppm, which translates into 606 kT of TREO. The kaolinite, ilite and smectite clay at Ampasindava tested positive for traces of Dysprosium, Neodymium, Praseodymium, and Terbium.

The Project is located on the Ampasindava Peninsula in the northeastern Madagascar, not far from the town of Ambanja and facing the resort island of Nosy Be. By road, its is approximately 500 kilometers away from the capital, Antananarivo.

The initial budget for the start of operations is estimated at USD 143 million. Most of the financing is expected to from equity participation through the sales of shares on the London Stock Exchange.

Currently, Harena Resources is in the process of completing the feasibility studies for the Ampasindava Project. Recent escalating geopolitical tensions and related export controls have drawn international attention to #CriticalMinerals, and Rare Earth Elements (#REE), in particular.

Back in May 2024, Harena announced that its has signed up an offtaker in the name of US-based United Rare Earths. United Rare Earths is prepared to purchase mixed rare earth carbonate from Harena Resorces once Ampasindava Project moves into gear. It is worth noting that United Rare Earths also has a rare earths refinery and recycling center in Tennessee.

A preliminary assessment of the Ampasindava Project indicated that logistics remain complex and challenging in Madagascar due to an underdeveloped road transport network. Initially, Harena might have to resort to seaborne or airborne transport modes. In that regard, the international airport at Nosy Be, located only 35 kilometers from the mining site could be put to good use.