By: OrePulse

Madagascar's Ministry of Mines has formalized the exploitation permit for Harena Rare Earths' Ampasindava project, a regulatory milestone the London-listed company says allows it to move next toward securing the required environmental permit.

Harena executive chairperson Ivan Murphy called the permit a major milestone for the project and said it could support job creation and skills training for the local workforce, noting Madagascar's potential to join the group of countries that produce or process rare earth elements.

The company said it is now focused on obtaining an environmental permit and approval for its environmental and social plans before construction can begin.

A $4.84 million project development funding agreement with the U.S. International Development Finance Corporation is expected to support a pilot phase, including a demonstration plant. Harena said the pilot phase is intended to generate technical, economic, environmental, and social data to help refine the project's development path.

Murphy said the company is targeting "bringing the project into production in 2028." No production volumes, capital costs, or resource estimates were disclosed.