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Financial|Mining|PROJECT|Resources|SECURITY
financial|mining|project|resources|security

RAB Capital invests further in Harena

An image showing the area surrounding the Ampasindava project

The area surrounding the Ampasindava project

2nd October 2025

By: Tasneem Bulbulia

Deputy Editor Online

     

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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.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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