REG - Citius Resources PLC - China Rare Earth Export Control

Harena ResourcesAnnouncement

08/04/2025 07:00

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RNS Number : 0071E  Citius Resources PLC  08 April 2025

 

8 April 2025

 

 

Citius Resources Plc (to be re-named Harena Resources Plc)

 

("Harena" or the "Company")

 

China's Rare Earth Export Controls Highlight Strategic Importance of Harena's
Ampasindava Project

 

Highlights

 

·    China imposes fresh export controls on rare earth elements including
Dy and Tb - critical in the production of NdFeB permanent magnets

·    NdFeB permanent magnets essential for military applications,
including fighter jets, guided missiles, radar systems, and advanced weapons
platforms

·    Ampasindava hosts a JORC-compliant 698Mt resource with significant
concentrations of these critical heavy rare earths

·    Ionic clay resources offer potential lower-cost extraction, versus
complex hard-rock processing

·    Non-binding offtake term sheet signed with United Rare Earths Inc.,
supporting US domestic supply chains for defence and energy markets

·    Company advancing Feasibility Study, Environmental & Social
Impact Assessment, and strategic partnerships to support future production

·    Recent export controls reported by Reuters (4 April 2025) reinforce
the urgency for independent rare earth supply chains

 

Harena Resources Plc (LSE: HREE), the rare earths exploration and development
company focused on the 75% owned Ampasindava Project in Madagascar, notes
China's recent announcement imposing new export controls on rare earth
elements ("REEs"), including magnet metals such as Dysprosium (Dy) and Terbium
(Tb).

 

These critical elements, along with Neodymium (Nd), Praseodymium (Pr), are
vital for the manufacture of NdFeB (Neodymium-Iron-Boron) permanent magnets,
which are essential for defence applications including fighter jets,
precision-guided missile systems, military radar, and advanced weapons
platforms. They also play a key role in wind turbines, robotics, computing,
electric vehicles and renewable energy technologies.

 

Harena's Ampasindava Project hosts a JORC-compliant large scale 698Mt
resource, containing a significant concentration of these high-demand magnet
metals. The ionic clay nature of the deposit offers the potential for
lower-cost, lower-impact extraction, providing an alternative to China's
dominance in processing and refining.

 

The Company has already signed a non-binding offtake term sheet with United
Rare Earths Inc., a US-based group developing a Rare Earths Centre of
Excellence in Tennessee, supporting domestic supply chains for defence and
energy markets.

 

China's tightening of export controls underlines the growing urgency for
secure, independent supply chains, as highlighted in a recent Reuters report
(4 April 2025), which confirmed new restrictions on rare earth exports
including Dy and Tb - metals critical to defence and advanced technology
sectors:

 

https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/
(https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/)

 

Harena remains focused on advancing its Ampasindava Project through the
Feasibility Study and Environmental and Social Impact Assessment, while
actively pursuing offtake and strategic partnerships to support future
production.

 

Joe Belladonna, Managing Director of Harena Resources, commented:

"China's move to restrict exports of critical rare earths has made the need
for diversified, geopolitically neutral supply chains even more pressing.
Ampasindava is well positioned to be part of the solution, offering a
large-scale ionic clay rare earth resource of magnet metals essential for
global defence, energy, and technology markets. We are focused on progressing
development and building meaningful commercial partnerships."

 

Further updates will be provided as the Company advances its development
plans.

 

 

 

Contact

 Harena Resources                            www.harenaresources.com.au (https://harenaresources.com.au/)
 Joe Belladonna/Allan Mulligan               +44 (0)1624 681 250

                                             info@harenaresources.com.au (mailto:info@harenaresources.com.au)

 Tavira Financial                            +44 (0)20 7330 1833

 Jonathan Evans/Oliver Stansfield

 Flowcomms Limited (Investor Relations)      +44 (0) 7891 677 441

 Sasha Sethi                                 sasha@flowcomms.com

 X (Twitter)                                 www.x.com/HarenaResources (http://www.x.com/HarenaResources)
 LinkedIn                                    www.linkedin.com/company/harenaresources
                                             (https://www.linkedin.com/company/harenaresources/)

 

Notes to Editors

 

Harena Resources is a rare earths exploration and development company that
holds a 75% interest in the on the Ampasindava Ionic Clay Rare Earth Project
in Madagascar. The project hosts one of the largest ionic clay rare earth
deposits outside of China, with significant concentrations of high-value
magnet metals. 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.

Forward-Looking Statements This announcement contains forward-looking
statements that involve risks and uncertainties. Actual results may differ
materially from those expressed or implied in such statements.

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