DFC provides project development financing to Harena Rare Earths for Madagascar rare earth mine
Type: Financing · Technology: Mining · Country: Madagascar · Announced: 2026-08-07
The U.S. International Development Finance Corporation announced on August 7 2026 that it will provide project development financing to Harena Rare Earths plc for the Ampasindava Ionic Clay Rare Earth Project in Madagascar. The project hosts one of the largest ionic clay rare earth deposits outside China, concentrating heavy rare earths such as neodymium, dysprosium and praseodymium. The funding is intended to convert the venture into an investment‑ready project that can supply critical minerals for U.S. advanced manufacturing and defense applications. The announcement was made at the American Mining Industry event held at the U.S. Department of State, underscoring DFC’s focus on mining investments in Africa. No monetary amount was disclosed, but the deal aligns with DFC’s strategy to strengthen strategic partnerships and secure supply chains for the United States.
Counterparties
- U.S. International Development Finance Corporation (Lender)
- Harena Rare Earths plc (Borrower)
- US International Development Finance Corporation (DFC) (Investor)
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