Altona’s flagship project is the Monte Muambe REE project, located in Mozambique.
Since its acquisition in June 2021, exploration work at Monte Muambe, including a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO (at a cut-off grade of 1.5% TREO) and a positive scoping study haves demonstrated that the project has the potential to become a significant REE supplier in Africa.
Africa’s complex geology makes it a favorable environment for REE deposits. Large parts of the Continent have seen relatively little exploration for REE, and the potential for new discoveries is high, especially for Ionic Clay deposits which are a relatively new economic geology model.
Building on its presence and experience on the ground in Africa, and using the latest geoscientific data sets, 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.
