Vara Mada Rare Earth Mining Project

planned

The Vara Mada rare earth mining project in Madagascar is a $920 million investment led by US-based Energy Fuels. It targets monazite, a mineral rich in critical elements used in electronics and renewable energy, and could operate for up to 38 years. The project is strategically important for Western nations to reduce dependence on China for rare earth minerals. Final approval depends on a formal agreement with the government, which must be approved by the Constitutional High Court and parliament. Construction could begin in 2027, with production targeted between 2029 and 2030. The project faces community opposition over environmental and health concerns, similar to unrest that suspended operations in 2019.