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 is subject to final approval […]
Tag: Altona Rare Earths plc
Altona losses rise in ‘transformational year’
Altona Rare Earths plc’s losses widened during a transformational year at its Monte Muambe rare earths project in northwest Mozambique. FINANCES Results for the year ended 30 June showed a loss of £1.3 million (2022: £800,000) while the company said it was focused on keeping administration costs to a minimum. The group’s total assets increased to […]
Altona to own 51% Monte Muambe with scoping study
Altona Rare Earths plc expects to increase its holding in the Monte Muambe project from 31 to 51% following today’s publication of the scoping study. PROCESS Results show an expected average 15,000 tonnes production of mixed rare earth carbonate (MREC) over 18 years from open-pit mining of targets 1 and 4, at a life of […]
Altona MRE shows 13.6m tons at 2.42% TREO for Monte Muambe
A total 13.6 million tons at 2.42% total rare earth oxides (TREO) has been recorded in the inaugural mineral resource estimate (MRE) for the Monte Muambe project in northwest Mozambique. FAST TRACK Altona Rare Earths plc’s JORC compliant MRE, using a cut-off grade of 1.5%, includes 0.31% NdPrO representing 42,500 contained tons of neodymium and praseodymium […]
Altona intercepts record high grades
Altona Rare Earths plc intercepted record high grade ore with more confirmed on targets at the Monte Muambe project in Tete Province, northwest Mozambique. TARGET POTENTIAL The company has to date drilled 10 reverse circulation holes for a total 790 metres. Interceptions include 76m at 3.426% total rare earth oxides (TREO) from surface at target 4, […]
Altona joins mining lobby group in Mozambique
Altona Rare Earths plc’s subsidiary, developing the Monte Muambe project, has joined the Chamber of Mines of Mozambique (CMM). ADVOCACY Founded in 2012 by a number of large international miners, CMM co-ordinates private sector mining companies in the country and represents their interests to the government. The organisation also aims to improve the image of […]