The US International Development Finance Corporation (DFC) signed a funding agreement worth up to $4.84 million with Harena Rare Earths Plc for a rare earths project in Madagascar. The Ampasindava project, 75%-owned by Harena, targets heavy and magnet rare earth elements critical for defense, electric vehicles, and high-tech manufacturing. The deposit is described as one of the most significant ionic clay rare earth resources outside China, which currently dominates the global supply chain. Harena shares, listed on the London Stock Exchange under ticker HREE, surged on the news of this first direct DFC financial commitment to the project.
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