Altona Rare Earths Plc (REE.L) is a resource exploration and development company focused on the development of Monte Muambe, a significant Rare Earth Elements extraction project.

Global demand for Rare Earth Elements continues to rise, driven by the world’s transition to renewable energies and the necessity of the defense and communication industries to diversify their sources of these critical materials. Neodymium, Praseodymium, Terbium and Dysprosium, collectively known as the “Magnet Metals”, are some of the most sought-after and valuable Rare Earths. All of them are present at Monte Muambe.

Monte Muambe is a carbonatite-hosted REE deposit located in Tete Province, Northwest Mozambique. The Project was acquired in June 2021, and the Company has so far drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO. A Competent Person Report (CPR) including the Scoping Study for Monte Muambe was published on 18 October 2023. The Project is now entering its Prefeasibility Study stage.

Altona’s objective is to rapidly advance and de-risk Monte Muambe to fast-track it into production.

Using its established position on the ground in Africa, Altona continues to assess new high-quality Rare Earths exploration and development assets on the Continent.