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US backs Madagascar rare earth project
The U.S. State Department announced its support for the "Ambasindava" project in Madagascar, aimed at developing the mineral neodymium and praseodymium, vital elements for manufacturing permanent magnets used in defense applications and clean energy. The project seeks to produce approximately 4,000 metric tons per year of rare earth elements, supporting U.S. efforts to reduce dependence on China, which dominates the global rare earth minerals market. Production is expected to begin by mid-2028, with potential additional U.S. support during the construction phases.
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