On 7 August 2026, the US International Development Finance Corporation (DFC) announced that it had approved initial funding for Harena’s (LSE: HREE) Rare Earth Project at Ampasindava in Madagascar. The announcement was made during the American Mining Industry Roundtable at the US Department of State chaired by President Donald Trump, in the presence of several Cabinet Secretaries, namely, State Secretary Marco Rubio, Interior Secretary Doug Burgum and Commerce Secretary Howard Lutnick.<\/p>\n\n\n\n
Altogether, State Secretary Marco Rubio and DFC CEO Ben Black announced up to USD 3 billion of financing for #CriticalMinerals<\/a> projects in US and around the world. Some of the flagship projects include: Sila Nanotechnologies ($1.4B), Sunrise Energy Metals ($400M), Niron Magnetics ($150M). The US Government is also earmarking USD 180 million to ‘train the next generation of American miners.’ Companies present include Rio Tinto, BHP, MP Materials, USA Rare Earths, Energy Fuels, US Antimony and The Metals Company.<\/p>\n\n\n\n “President Trump is looking out for the American people and has made securing our critical mineral supply chains a national priority. Through projects like Harena, DFC is helping expand America’s access to these critical minerals and providing partners transparent, high-quality financing alternatives.”<\/p>\nDFC CEO Ben Black<\/cite><\/blockquote>\n\n\n\n It represents a landmark historic deal as the first mining project backed by the US Government in Madagascar. Harena revealed that it expects to receive the exploration license from the Government of Madagascar within a matter of weeks. The #Ampasindava<\/a> Project is right up there with other Tier-1 projects at Serra Verde and Aclara. During the roundtable, President Trump expressed his ambitions to ‘reclaim America’s rightful place as the minerals superpower of the world.’<\/p>\n\n\n\n DFC is providing nearly USD 5 million for project development, including laboratory testing, environmental and social programs and plant pilot. It is meant to pave the way for a potential larger involvement in the future. Harena estimates it will need nearly USD 150 million to build out the mine.<\/p>\n\n\n\n “The investment by the US Government through the DFC is a huge endorsement of the quality of our ionic clay rare earth project in Madagascar … We are honored to be playing our part to alleviate the chronic shortage of magnet metals and heavy rare earths in order to increase the mineral security of the US and its partners.”<\/p>\nHarena Chairman Ivan Murphy<\/cite><\/blockquote>\n\n\n\n The Ampasindava is characterized by an ionic clay deposit that is rich in several #RareEarths<\/a>, notably, neodymium praseodymium, dysprosium, and terbium. Based on the project feasibility study, the Ampasindava Mine aims to output 4,000 tonnes of rare earth oxides annually, including 1,700 tonnes of the heavy and high-value ones.<\/p>\n\n\n\n\n
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