RAB Capital invests further in Harena
London-listed Harena Resources has announced terms for an investment of £450 000 into the company by long-standing institutional investor RAB Capital and associates (RAB).
The investment is structured as a conditional subscription for the issuance of 30-million new ordinary shares.
This investment will increase RAB’s shareholding in Harena from 4.17% to about 9.02% of the company’s enlarged issued share capital.
The proceeds from the subscription will be used for working capital to advance the Ampasindava ionic clay rare earth project, in Madagascar.
The issuance of the subscription shares is conditional upon the renewal of the directors’ authority to issue ordinary shares at the AGM in November and compliance with the prospectus rules.
An application will be made in due course for the subscription shares to be admitted to the official list of the Financial Conduct Authority and to trading on the main market of the LSE when the shares are issued following the new prospectus rules coming into effect, expected around January 19, 2026.
“The board is delighted to announce further funding from RAB Capital, led by [RAB Capital CEO] Philip Richards, one of London’s longest-standing and most respected mining investors. RAB has a strong track record of identifying value in the mining sector and supporting companies with significant growth potential,” says Harena executive chairperson Ivan Murphy.
“This additional investment represents a strong endorsement of our strategy, and we are pleased that RAB Capital has consolidated its position as one of our leading investors. The funding provides increased financial security and supports the continued advancement of our world-class ionic clay rare earth project. We look forward to sharing further developments on our project with our shareholders in due course,” he adds.
“Harena is a globally strategic heavy rare earth resource and likely to attract interest from US or other countries as they look to alternative supplies of critical metals outside of China. The Ampasindava project is especially exciting given its deposits of specific heavy rare earths that are key in the composition of neodymium magnets, which are in growing demand from the rapidly expanding robotics sector,” says Richards.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation