Mining Terms and Conditions (CCM) Signed
Harena Rare Earths plc has signed the Mining Terms and Conditions (CCM) with Madagascar's Ministry of Mines, a significant regulatory step for its Ampasindava project. This agreement formalizes the company's commitments and clears the path for the next development phase, including a Proof of Concept pilot plant and an onsite laboratory. The company will now prioritize environmental and social studies to secure necessary permits, supported by a recent US$4.84 million Project Development Facility from the U.S. International Development Finance Corporation (DFC). This milestone positions Ampasindava as a key large-scale ionic clay rare earth project outside China, crucial for diversifying global critical mineral supply chains.
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Mining Terms and Conditions (CCM) Signed - Clearing the Path to Pilot Plant and Environmental Permitting at Ampasindava
Harena Rare Earths plc (LSE: HREE, OTCQB: CRMNF), advancing the Ampasindava ionic clay rare earth project in Madagascar (the "Ampasindava Project"), is pleased to report a major regulatory milestone.
Highlights
| · | CCM signed - the Company has signed the Cahier des Charges Minières (Mining Terms and Conditions, the "CCM") with Madagascar's Ministry of Mines, formalising its technical, financial, environmental and social commitments under the country's 2023 Mining Code and completing the applicable mining regulatory process. This follows the successful PFS announced on 26 January 2026. |
| · | Path cleared to the next work programme - the CCM framework unlocks the next development phase, including the Proof of Concept pilot plant and an onsite laboratory, alongside continued technical studies and project development activities. |
| · | Environmental and social workstream now the priority - the Company will progress the environmental and social studies, stakeholder engagement and public consultation required to secure the environmental permit under Madagascar's MECIE Decree and international standards, including the IFC Performance Standards. |
| · | Funded to deliver - the Company's recent US$4.84 million Project Development Facility from the U.S. International Development Finance Corporation (DFC) provides the funding to advance the pilot-plant, environmental and social workstreams set out in this announcement. |
The signature of the CCM confirms Ampasindava as one of the few large-scale ionic clay rare earth projects being advanced outside China, with the potential to become a significant source of the magnet rare earth elements neodymium, praseodymium, dysprosium and terbium - supporting the diversification of global critical mineral supply chains.
Ivan Murphy, Executive Chairman of Harena, commented:
"Signing the CCM is a defining regulatory milestone. It gives us a clear framework to advance responsibly in Madagascar and, critically, clears the path to our Proof of Concept pilot plant and onsite laboratory. With the recent DFC facility in place, we are funded to deliver the next phase of work - beginning with the environmental and social assessment, stakeholder engagement and public consultation that underpin our approvals. Before entering commercial production, we will be completing all permits and authorisation consistent with our environmental and social commitments as set out in our PFS.
I would like to thank the Ministry of Mines, the Bureau du Cadastre Minier de Madagascar, our local team and all our advisers and stakeholders for their continued support."
The full White House Fact Sheet and DFC announcement regarding Harena's Project Development Funding Agreement can be accessed via the links below.
White House Fact Sheet https://www.whitehouse.gov/briefings-statements/2026/08/fact-sheet-president-donald-j-trump-announces-billions-in-new-deals-and-investments-to-power-american-mining/
U.S. DFC Announcement https://www.dfc.gov/media/press-releases/dfc-announces-financing-madagascar-rare-earths-project
| Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor hub | https://harenaresources.com/link/rkRRde |
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Development Finance Corporation (DFC)
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.