Renowned Fund Manager Greg Coffey Takes a Near 10% Stake in Harena

Why It Matters

Coffey’s investment signals strong confidence in the rare‑earth supply chain, potentially accelerating project financing and production. It underscores growing investor appetite for critical‑metal assets amid global demand spikes.

Key Takeaways

• Coffey acquires 9.7% stake in Harena Rare Earths
• Investment amounts to £2 million subscription
• Harena advances Ampasindava project in Madagascar
• Talks ongoing with U.S. Development Finance Corporation
• RAB and other investors join Harena's shareholder register

Pulse Analysis

Greg Coffey’s entry into Harena Rare Earths marks a notable shift in capital flows toward critical‑metal producers. Known for his tenure at Macquarie, a stint with George Soros, and now his own fund, Coffey brings both financial muscle and industry credibility. By committing £2 million for a near‑10% equity position, he aligns his portfolio with the strategic importance of rare earths, which are essential for clean‑energy technologies, defense systems, and high‑performance electronics.

Harena’s flagship Ampasindava project, located in Madagascar’s mineral‑rich highlands, is poised to become a significant source of neodymium, dysprosium, and other heavy rare earths. The development has progressed through drilling, resource definition, and initial infrastructure work, positioning it for a potential rapid ramp‑up once financing is secured. Ongoing discussions with the U.S. Development Finance Corporation (DFC) aim to unlock concessional funding, reflecting Washington’s broader push to diversify supply away from China. Successful financing would not only de‑risk the project but also enhance Madagascar’s role in the global rare‑earth value chain.

The broader market reads Coffey’s stake as a vote of confidence in the sector’s long‑term growth trajectory. Institutional investors are increasingly seeking exposure to metals that underpin the energy transition, and Harena’s diversified investor base—including RAB and other heavyweight funds—strengthens its credibility. If the Ampasindava project reaches commercial production, it could alleviate supply constraints, support price stability, and provide a strategic foothold for Western manufacturers. Stakeholders should monitor the DFC negotiations and any subsequent capital raises, as they will shape Harena’s ability to meet rising demand and capture market share.

Original Description

Greg Coffey, a renowned fund manager has taken a 9.7% interest in Harena Rare Earths, as part of the company's £2 million subscription last month. Coffey has a long track record in fund management going back decades, having started out with Macquarie, worked with George Soros, and moved onwards and upwards from there. He currently has his own fund, which now joins RAB and several other major investment names on the Harena register. Meanwhile, Harena is cracking on with development work at the Ampasindava rare earths project in Madagascar, and continues in talks with the DFC. Harena's chairman Ivan Murphy joins us with all the latest news.