Name of the Project
Ampasindava rare earths project.

Location
Antsiranana province, in northern Madagascar.

Project Owner/s
London-listed rare earths development company Harena Rare Earths.

Project Description
The Ampasindava project hosts a large ionic clay rare-earth deposit amenable to low-impact extraction and processing. A recently completed prefeasibility study (PFS) confirms the technical and economic viability of the project and outlines a development pathway. No mineral reserve has yet been declared, with resource conversion forming part of future definitive feasibility work.

The deposit is underpinned by a Joint Ore Reserves Committee-compliant mineral resource estimated at 699-million tonnes grading about 868 parts per million total rare-earth oxides (TREO), containing about 606 000 t of TREO. The PFS is based on a long-life heap-leach operation treating up to five-million tonnes a year of ionic clay ore. Processing incorporates heap leaching and downstream ion-exchange desorption to produce a mixed rare earth carbonate product for export and downstream refining.

The processing plant is designed to deliver production of about 4 000 t/y of TREO, including an estimated 1 700 t/y of high-value neodymium/ praseodymium and dysprosium/terbium components. Over a projected mine life of about 20 years, total production is forecast at about 71 000 t of TREO, with about 88-million tonnes of ore scheduled for processing.

The mine plan includes concurrent satellite pits, progressive rehabilitation and ecological replenishment of disturbed areas. Spent ore and overburden are returned to mined pits to minimise disturbance and support long-term environmental restoration, supported by ongoing environmental and social management programmes.

Potential Job Creation
Employment is expected to increase to about 400 personnel by Year 5, with a focus on local recruitment and skills development.

Net Present Value/Internal Rate of Return
On a pretax basis, the base case PFS indicates a net present value, at a 10% discount rate, of about $343.7-million and an internal rate of return of about 34%, with a payback period of about four years.

Capital Expenditure
Preproduction capital expenditure is estimated at about $142-million, including engineering, procurement and construction management, as well as cost allowances.

Planned Start/End Date
Permitting and feasibility advancement are continuing, with potential construction from 2027.

Latest Developments
The PFS has been submitted to the Madagascar Ministry of Mines as part of the permitting process.

The company continues to engage financiers and advance detailed engineering, environmental studies and community programmes.

Key Contracts, Suppliers and Consultants
SGS (technical support for the PFS and resource update).

Contact Details for Project Information
Harena Rare Earths Plc, tel +44 1624 681250 or email info@harenaresources.com.au.