The US is throwing its support behind Madagascar’s Ampasindava rare earths project as part of a broader strategy to reduce reliance on Chinese-controlled mineral supply chains. The US International Development Finance Corporation has committed up to $4.48 million to support pilot plant operations, laboratory testing, and environmental programs for the roughly $150-million project, with additional financing possible as development progresses. The deposit is rich in neodymium, praseodymium, dysprosium, and terbium, materials essential for manufacturing magnets used in defense systems, wind turbines, and electric vehicles. Owned by London-listed Harena Rare Earths, the mine is expected to produce about 4,000 metric tons of rare earth oxides annually once it is operational. The investment reflects Washington’s growing strategy to expand Western involvement in Africa’s critical minerals sector, which Chinese companies have long dominated.
Mining Weekly