12th Oct 2026 12:04
Harena Rare Earths PLC - rare earths exploration and development company focused on Madagascar - Says its exploitation permit for the Ampasindava project has been formalised. Harena can now advance environmental assessments and public consultations ahead of developing an extraction plant and processing facility it says. The company's immediate priorities are obtaining an environmental permit and completing environmental and social management plans before construction of the pilot phase can begin. The pilot phase will be supported by a USD4.8 million project development funding agreement with the US International Development Finance Corp. The pilot phase will include a demonstration plant and initial commercial operations. Harena says the results will inform a definitive feasibility study for full-scale development with production targeted for 2028.
Chair Ivan Murphy says the permit represents a major milestone: "Our immediate focus is now on completing the environmental permitting process required to move into the pilot programme. The pilot programme will generate important technical data to further refine Ampasindava’s development pathway as we work towards bringing the Project into production in 2028."
The company issues 66.7 million new performance shares of 0.5 pence each, with admission expected on October 14.
Current stock price: 2.98 pence, up 2.8% on Monday afternoon
12-month change: up 66%
By Niall Holden, Alliance News reporter
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