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U.S. backs Madagascar rare earth project
The U.S. State Department announced its support for the "Ambasidava" rare earth minerals project in Madagascar, aiming to reduce China's dominance over critical mineral supply chains. The project, with a cost of up to $150 million, involves the production of approximately 4,000 tons annually of rare earth oxides, including high-value elements such as neodymium and praseodymium, which are used in manufacturing magnets essential for defense industries and clean energy. Production is expected to begin by mid-2028, with potential for increased U.S. support as the project advances. This effort seeks to diversify sources of vital minerals and boost American investments in Africa, especially amid China's control over global mining and processing operations, as well as its use of export restrictions to strengthen its influence in sectors like electric vehicles and renewable energy.
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