Harena Resources Takes Charge of Madagascar's Rare Earths Future
In an exciting development for mineral exploration, Harena Resources has officially secured complete ownership of its Ampasindava rare earths project located in Madagascar. Announced on August 28, this move involves acquiring the remaining 25% stake from its parent company, effectively granting Harena 100% control over the future mining operations. The projected construction cost for this ambitious venture stands at 3 million, undoubtedly marking a significant investment in Madagascar’s resource sector.
Previously known as Citius Resources, Harena Resources has made headlines with its strategic name change, which aims to enhance its visibility in the London investment community. The Ampasindava deposit itself boasts an impressive estimate of 606,000 tonnes of total rare earth oxides (TREO). This positions Madagascar as a potentially key player in the global rare earths market, particularly as demand continues to rise and the world looks for alternatives to China, currently the leading producer.
As part of its initiative, Harena is currently conducting a pre-feasibility study, with results expected to be ready by the third quarter of 2025. These findings will play a pivotal role in paving the way for a definitive feasibility study (DFS), which is scheduled for completion in the first quarter of 2026. The ultimate goal? To kick off commercial operations by the second half of 2028, targeting an annual output of around 5,000 tonnes of TREO.
Moreover, the project is mindful of its broader impact. An environmental and social impact assessment (ESIA) has already commenced, aligning with sustainable practices that are becoming increasingly important in the global mining landscape. This initiative complements Madagascar’s recent mining code, which guarantees the government a 10% free-carried interest in mining projects, as well as a 5% royalty. This ensures that the country’s economic framework benefits from the wealth generated by its natural resources.
Madagascar’s strategic positioning in the rare earths sector serves as a promising opportunity not just for Harena Resources, but also for the country’s economic growth and sustainable development. As the world increasingly pivots towards greener technologies, Madagascar might just establish itself as a cornerstone in the global supply chain for critical minerals.
Stay tuned to Africazine for more updates on this evolving story as Madagascar positions itself as a vital player in the global rare earth minerals market!
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