REG - Harena Rare Earths - Operational Update

Harena Rare EarthsAnnouncement

18/12/2025 07:00

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RNS Number : 0012M  Harena Rare Earths PLC  18 December 2025

18 December 2025

 

Harena Rare Earths Plc

("Harena" or the "Company")

 

Operational Update

 

Harena Rare Earths Plc (LSE: HREE) (OTCQB: CRMNF), the rare earths company
focused on the Ampasindava ionic clay rare earth project in Madagascar (the
"Ampasindava Project"), is pleased to provide an operational update regarding
the Company's engagement with the U.S. International Development Finance
Corporation ("DFC") and the submission of its Pre-Feasibility Study (the "PFS"
or the "Study") for the Ampasindava Project.

 

Project Financing - DFC Engagement

 

Following recent meetings in Washington D.C. with the leadership of the DFC,
Harena's Executive team has subsequently engaged with the DFC investment team.
As a result of these discussions, the Company is now moving into a formal
application process with the DFC for project development finance of up to US$5
million, intended to support the next phase of development activities at the
Ampasindava Project.

 

The Company views this as an important step forward in advancing its project
financing strategy and in building relationships with US government-backed
development finance institutions.

 

Further information on the DFC can be found via its website
(https://www.dfc.gov/) .

 

Submission of Pre-Feasibility Study

 

The Company has completed the technical submission of its PFS and is now
engaged in a collaborative and highly interactive review process with the
Ministry of Mines of the Republic of Madagascar, to ensure the Study aligns
with the Ministry's specific, prescribed formatting requirements.

 

Submission of the Study represents a key milestone for Harena as it progresses
towards the award of an Exploitation Permit (the "Permit") for the Ampasindava
Project.

 

Harena remains focused on working closely with the Ministry to ensure
alignment across both technical and commercial aspects of the Ampasindava
Project as the Company makes good progress in its anticipated permitting
timeline.

 

Executive Chairman Interview

 

Additionally, Ivan Murphy recently participated in a VOX Markets video
interview summarising the Company's progress over 2025 and outlining Harena's
next steps in 2026, including permitting, financing and project development
activities.

 

The interview is available to view via the following link:

 

https://www.voxmarkets.com/articles/2026-will-be-a-massive-year-for-harena-rare-earths-e15438e
(https://www.voxmarkets.com/articles/2026-will-be-a-massive-year-for-harena-rare-earths-e15438e)

 

 

Ivan Murphy, Executive Chairman of Harena, said:

 

"Our recent meetings in Washington D.C. and subsequent engagement with the DFC
investment team represent meaningful progress in our project financing
strategy, and we are encouraged to be moving into a formal application process
for development funding. We look forward to providing further updates as this
process advances.

 

"In parallel, the submission of our Pre-Feasibility Study is a pivotal moment
in Harena's development and is the culmination of extensive technical work and
sustained engagement with the Ministry of Mines of Madagascar.

 

"We sincerely thank Minister Carl Andriamparany and the Ministry for their
collaborative and constructive approach throughout this process. The level of
engagement has been highly encouraging and reflects the Ministry's progressive
and commercially focused outlook as well as strong alignment between the
Company and the Government of Madagascar.

 

"With permitting, financing and technical work advancing together, Harena is
well positioned as we move into the next stage of development at Ampasindava."

 

Allan Mulligan, Technical Director of Harena, said:

 

"Completing our PFS and ensuring it aligns with the Madagascan Government's
requirements has been a major focus in our engagement with the Ministry over
recent weeks. The interactive dialogue with the Ministry has been highly
productive, and we are encouraged by the positive engagement we have
maintained throughout.

 

"This Study demonstrates the robustness of our technical work and reinforces
the quality and economic potential of the Ampasindava Project. We look forward
to continuing our engagement with the Ministry as the permitting process
advances."

 

 

For further information please contact:

 

 Harena Rare Earths Plc

 Ivan Murphy, Executive Chairman                                +44 (0)20 7770 6424

 Allan Mulligan, Executive Technical Director

 Allenby Capital Limited - UK Financial Adviser & Broker        +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)             info@allenbycapital.com (mailto:info@allenbycapital.com)

 Amrit Nahal / Kelly Gardiner (Sales & Corporate Broking)

 Muriel Siebert & Co. - US Financial Adviser & Broker           +1 (917) 902 7823

 Ajay Asija, Co-Head of Investment Banking                      aasija@siebert.com

 Celicourt Communications - Public Relations                    +44 (0)20 7770 6424   harena@celicourt.uk (mailto:harena@celicourt.uk)

 Mark Antelme / Charles Denley-Myerson

 

 

Notes to editors

 

Harena (www.harenaresources.com (http://www.harenaresources.com.au) ) is a
rare earths exploration and development company focused on the Ampasindava
Ionic Clay Rare Earth Project in Madagascar (Harena's interest is 100%). The
project hosts one of the largest ionic clay rare earth deposits outside of
China, with significant concentrations of high-value magnet metals,
specifically heavy rare earths, including neodymium (Nd), dysprosium (Dy), and
praseodymium (Pr), which are critical for the composition of neodymium magnets
(NdFeB). Harena is committed to low-impact, high recovery mining, providing a
sustainable supply of critical minerals for the global energy transition and
military defence industries as well as meeting the ever-growing demand for
NdFeB from the robotics sector.

 

 

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