Altona Rare Earths PLC is an LSE listed junior exploration company (LON:REE) focused on the discovery and development of Critical Raw Materials sources in Africa. Our strategy is to acquire controlling interests over a diversified portfolio of mining assets in order to mitigate commodity exposure and country risks, and to maximize value for our shareholders.
Critical Raw Materials encompass metals and minerals that are essential to our everyday life and to many high-technology applications, including those necessary to sustain the decarbonization of the World’s energy sources. Critical Raw Materials include for example rare earth elements, lithium, copper, nickel and graphite. The global demand for Critical Raw Materials continues to rise, buoyed by the Green Energy Transition.
Since 2021, Altona has been developing the Monte Muambe rare earths project, located in Tete Province, Northwest Mozambique.
Neodymium, Praseodymium, Terbium and Dysprosium, often referred to as the “Magnet Metals”, are some of the most sought-after and valuable Rare Earths. They are essential to the production of permanent magnets for electric vehicles drive trains, wind turbines, and robots motors. All are present at Monte Muambe.
So far Altona has drilled over 7,800m of boreholes, defined a maiden JORC Mineral Resource Estimate standing at 13.6 million tonnes with 2.42% TREO(1), and produced a Scoping Study. The project is now at its Prefeasibility Stage with a focus on metallurgical testing and process design.
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 is aggressively assessing new high-quality Critical Raw Materials exploration and development assets on the Continent, with an emphasis on rare earths, niobium, lithium and copper opportunities, and across several different countries.
(1)TREO = Total Rare Earths Oxide, a measure of the total content of rare earths in rocks
