Altona Rare Earths PLC (LSE:REE) CEO, Dr Cédric Simonet, spoke at the Proactive One2One Investor Forum about the company’s flagship Monte Muamba Project in Mozambique and its diversification into critical minerals.
Dr Simonet explained that Monte Muamba holds a maiden mineral resource estimate of 13.6 million tonnes with 2.42% total rare earth oxides and a significant high-grade fluorspar deposit, critical for industries like green energy and electric vehicles.
He also discussed Altona’s other assets, including copper projects in Botswana and Zambia, highlighting their strong technical merits and low exploration costs. With fluorspar prices estimated at $400 per tonne for metallurgical-grade material, Altona aims to begin production by late 2024, potentially generating $6–$8 million in annual revenue.
