This startup specializes in the extraction and supply of critical rare earth magnet metals, including Neodymium, Dysprosium, and Terbium, for the energy sector. By providing these essential materials, the company supports the production of high-performance magnets used in electric vehicles and wind turbines, addressing the demand for reliable components in renewable energy technologies.
Funding
$4.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The increasing demand for high-performance magnets in electric vehicles, wind turbines, and defense applications requires a stable and secure supply of critical rare earth elements. Western supply chains face challenges in accessing these essential materials, particularly neodymium, praseodymium, dysprosium, and terbium, which are vital for renewable energy production and advanced technologies.
Solution
Harena Resources is focused on the extraction and supply of key rare earth magnet metals, specifically neodymium, praseodymium (NdPr), dysprosium, and terbium (DyTb), to bolster Western supply chains. The company is developing the Ampasindava Ionic Clay Rare Earths Project in Madagascar, one of the world's most significant deposits outside of China. Harena Resources utilizes a heap leach process to extract rare earth elements from the ionic clay, focusing on environmentally responsible and efficient methods. The project aims to provide a low-impact, fully rehabilitated extractive operation, minimizing the environmental footprint while producing essential minerals for the renewable energy sector and defense industry.
Target Audience
The primary target audience includes manufacturers of electric vehicles, wind turbines, and defense equipment, as well as other industries requiring high-performance magnets and a secure supply of rare earth elements.
Features
- Development of the Ampasindava Ionic Clay Rare Earths Project, containing a defined mineral resource of 699 million tonnes at 868 ppm Total Rare Earth Oxides (TREO) containing 606 kt of TREO.
- Production of neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).
- Environmentally responsible heap leach process for mineral extraction.
- Low-impact extractive project with a focus on full rehabilitation and minimal environmental footprint.
- Project mineralisation hosted close to the surface, requiring minimal volume removal for processing.
- Advanced metallurgical testwork completed to optimize mineral product yields.
- JORC compliant Resource report published.