US backs Madagascar rare earths project

THE US State Department has confirmed support for the Ampasindava rare earths development in Madagascar, part of a broader effort to reduce reliance on rivals – chiefly China – for critical mineral supply chains, said Reuters on Tuesday.Chinese firms have historically dominated African investment in copper, cobalt and lithium, but Western-backed rare earth ventures are now gaining ground on the continent, the newswire said.Harena Rare Earths, the London-listed company behind the roughly $150m Ampasindava project, said last week that the US International Development Finance Corporation had pledged up to $4.48m toward pilot testing, laboratory work and environmental studies, potentially opening the door to larger future funding.A State Department spokesperson said the US strategy aims to counter “opaque, predatory investments from our adversaries” in Africa’s mining sector, adding that Madagascar presents further opportunities for American-aligned capital.China remains the world’s leading producer and processor of rare earths, and has previously used export restrictions to demonstrate its grip over materials essential to electric vehicles, wind power, electronics and military hardware, said Reuters.Ampasindava’s ionic clay deposit contains neodymium, praseodymium, dysprosium and terbium – magnet-grade elements used in defence applications such as fighter jets and guided missiles. Harena expects the mine to yield roughly 4,000 tonnes of rare earth oxides annually.Executive chair Andrew Murphy said Harena is pursuing an exploitation permit, targeting production by mid-2028, and is in talks with potential US and European refining partners including MP Materials.The post US backs Madagascar rare earths project appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com