France, May 3 -- Backed by the United States and led by US company Energy Fuels, the revamped Vara Mada project could operate for up to 38 years in Madagascar's impoverished south-west.

The final hurdle now lies in securing a formal investment agreement with the Malagasy government - a document that will need to be made public and approved by both the Constitutional High Court and Parliament before work can begin.

Located in Ranobe - around 45km north of the southwestern city of Toliara - the Vara Mada site represents an investment of about €854 million.

Its primary focus is monazite, a mineral rich in rare earth elements that are essential for modern technologies ranging from electronics to renewable energy systems.

UN experts ...