Harena Resources announces board reshuffle, appoints new director

LONDON - Harena Resources PLC (LSE:HREE), a mining company focused on rare earths exploration and development, has announced changes to its board with the appointment of Mr. Stephen Weir as a Non-Executive Director, effective immediately. The company also disclosed that Joe Belladonna will transition from his current role to become General Manager of Business Development, effective June 30, 2025.

Stephen Weir, with over 25 years of experience in the mining and finance sectors, brings a wealth of knowledge to Harena, particularly in equity capital markets and corporate advisory roles. His background includes senior positions at RFC Ambrian and Bankers Trust in Sydney, as well as a recent stint as CEO of Magnetite Mines Ltd. Weir holds a Bachelor of Engineering from the University of Melbourne and is a member of the Australian Institute of Company Directors.

The appointment is part of a strategic move by Harena to evolve its board composition while maintaining a governance structure suitable for the company’s current stage of development. Chairman Tim Morrison praised Weir’s extensive experience and capital market insight, which will be invaluable as the company progresses its Ampasindava rare earth project in Madagascar.

Joe Belladonna, who has been instrumental in leading Harena to its successful London Stock Exchange (LON:LSEG) listing, will focus on business development and funding initiatives, particularly in relation to US-based rare earth processing capabilities.

Stephen Weir’s nomination is in line with the rights of the trustee under Harena’s A$1.5 million Loan Note Facility, which was established in conjunction with the company’s March 21, 2025 listing. This facility allows the trustee to appoint two directors to Harena’s board, as outlined in the prospectus dated February 26, 2025. Weir represents one of these appointments and currently holds approximately 1.07% of Harena’s issued capital.

Harena has stated that it does not intend to appoint a new Managing Director at this time, with Allan Mulligan continuing to oversee the technical and geological aspects of the Ampasindava project.

This announcement, based on a press release statement, comes as Harena Resources continues to focus on the development of its Ampasindava Ionic Clay Rare Earth Project in Madagascar, which is one of the largest ionic clay rare earth deposits outside China.

The company emphasizes its commitment to sustainable mining practices and aims to supply critical minerals for the global energy transition and military defense industries.

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