U.S. Backs Madagascar’s Rare Earths Project

AI Summary

The US International Development Finance Corporation is investing $4.84 million in the Harena Rare Earths' Ampasindava project in northern Madagascar. This support aims to reduce China's influence over critical rare earth minerals vital for advanced technologies and energy production.

The Trump administration has opened another front in the global rare earths race, backing a new project in Madagascar as Washington accelerates efforts to break China’s grip on the critical minerals that power everything from advanced weapons and AI infrastructure to oil refining and electric vehicles. The U.S. International Development Finance Corporation (DFC) has committed up to $4.84 million to Harena Rare Earths’ (OTCQB: CRMNF) Ampasindava project in northern Madagascar. The funding will support pilot plant operations, metallurgical…