Altona Rare Earths plc has signed two non-disclosure agreements on potential investment for its Monte Muambe rare earth elements, gallium and fluorspar project in northwest Mozambique.
STRATEGIC
The first NDA, with a “leading international critical metals mining industry group”, is for potential strategic investment for rare earths and gallium.
Altona said it had sent representative ore samples to the potential partner for independent analysis.
The second NDA will “explore collaboration and funding opportunities” for fluorspar which is attracting “increasing attention from the European fluorspar sector” and Mozambique.
Altona expects to sign a third NDA shortly, with European “entities operating in the fluorspar sector”.
“These agreements create a framework to assess potential collaboration across extraction, offtake, and staged project-level funding,” added the company.
“Constructive and fast-moving exchanges of information are underway under these NDAs.”
Altona noted the “trade wars” and “significant disruptions of industrial outputs and defence readiness” following February’s US trade tariffs and China’s export ban on critical raw materials.
Chief executive officer Cedric Simonet added: “This evolution is amplifying strategic interest in Monte Muambe, which is uniquely positioned with multiple critical raw materials in development.
“Our technical milestones – combined with a supportive geopolitical backdrop – are opening up compelling opportunities to partner with experienced players in the rare earths and fluorspar sectors.
“We are encouraged by the level of engagement from potential strategic investors and look forward to updating shareholders as these discussions evolve.”