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Altona Rare Earths plc has applied for 25-year mining licence for its majority owned Monte Muambe project in northwest Mozambique.
De-risk: a particular emphasis on advancing metallurgical studies (Pixabay)
PIVOTAL
The company acquired the project in June 2021 and currently holds 51%.
Altona has so far drilled more than 7,800m, and defined an inaugural JORC mineral resource estimate of 13.6 million tons at 2.42% total rare earth oxides.
Chief executive Cedric Simonet said that the application reflected Altona’s “unwavering confidence” in the project.
“The application marks a pivotal milestone in our journey to transforming what was, only three years ago, a few positive drillhole intercepts, into a rare earths mining operation.
“We look forward to furthering our relationship with the Ministry of Mineral Resources and Energy, as we work towards the approval of the mining licence.
“Our ongoing efforts are focused on further de-risking the project, with particular emphasis on advancing metallurgical studies.”
The Minister of Mineral Resources and Energy is expected to respond to the application within 190 days.
Altona Rare Earths plc today confirmed it had secured the majority shareholding in the Monte Muambe project in northwest Mozambique. DE-RISKING The increase from 20 to 51% ownership of subsidiary and licence holder Monte Muambe Mining Limitada follows completion in October of phase II involving the scoping study. The transfer…
Altona Rare Earths plc is to acquire its first rare earths asset after signing an exclusive acquisition deal for the Monte Muambe project in Tete Province, northwest Mozambique. Milestone: Altona says that Monte Muambe is a stand-out asset and a potential significant producer of rare earths (Wiki) PROGRAMME The company…
Altona Rare Earths plc has received "very encouraging" assays from fluorspar ore samples collected last October from the fluorite zone at the Monte Muambe rare earths project in northwest Mozambique. Objective: scoping study is in progress and a mining licence granted (Pixabay) PRODUCTION Returns of an average of 88.03% fluorite…
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