HOUSTON, February 10th (Argus) - Altona Rare Earths, a junior exploration company based in the UK, announced on Monday that the US Trade and Development Agency (USTDA) has agreed to support its Monte Muambe rare earth project in Mozambique.
Altona stated that the US Trade and Development Agency will provide technical and financial support for the development of the Monte Muambe project, helping with the production of rare earth elements.
The Monte Muambe project is a multi-resource mineral deposit in the northern part of the Tete Province of Mozambique, mainly extracting rare earths, fluorite and gallium.
Altona acquired the project in 2021 and determined that the mineral resources estimated at 136 million tons account for 2.42% of the total rare earth oxides.
The company also has a copper and silver project in Botswana.
