Altona Rare Earths plc has applied for 25-year mining licence for its majority owned Monte Muambe project in northwest Mozambique.
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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.