Energy Fuels discloses $5.88M in 2025 government payments across the US, Australia, Kenya, and Madagascar, revealing its critical minerals supply chain
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Madagascar
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About Madagascar
Madagascar supplies rare-earth feedstock from two different kinds of deposit. On the coast, heavy-mineral sands mined for titanium also carry monazite, a rare-earth phosphate. Rio Tinto's QIT Madagascar Minerals operation near Fort Dauphin, a joint venture with the government, produces monazite alongside ilmenite and zirsill. In the southwest, Energy Fuels plans to recover monazite at its Vara Mada project and ship it to its White Mesa Mill in Utah for separation into light and heavy rare-earth oxides.
In the north, the Ampasindava peninsula hosts an ionic-adsorption clay deposit. It is the same deposit type as the clays of southern China, where rare earths can be extracted with weak acids and the heavier rare earths are often enriched. Harena Rare Earths has taken the project through a pre-feasibility study, which plans to ship a mixed rare-earth carbonate rather than separated oxides.
USGS estimates Madagascar's mine output from China's reported imports. The open questions are whether Madagascar's government will settle fiscal terms and permit monazite recovery, and whether Western buyers can secure feedstock that USGS tracks through China's imports.
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