Altona Rare Earths plc has submitted a project proposal for United States’ funding for its Monte Muambe rare earths-fluorspar-gallium project in Tete Province, northwest Mozambique.
DRILLING
The company sent a formal proposal to the US Trade and Development Agency after the US Government had “re-engaged” on possible financing for a rare earths prefeasibility study.
Altona noted that the US Department of Defence had committed to invest US$400 million through a public-private agreement with US rare earths miner MP Materials.
The US Department of Defence is MP Materials’ largest shareholder.
Altona has also started mobilising field resources for the Monte Muambe fluorspar resource drilling campaign, which will also assess gallium.
Operations are due to start in September for a minimum 2,000 metres’ drilling of around 50 holes, with an average depth of 45 metres and a maximum of 75m.
Altona said that the fluorspar orebodies, outcropped at surface level, were most likely for a shallow open pit operation.
Diamond drilling cores will also be used in final metallurgical studies to support the mine plan.
GALLIUM
Gallium exploration will continue at the same time.
Assays, received on 15 August, confirmed previous gallium results using an pXRF analyser on two fenite samples, of 210 and 269 g/t respectively.
Mineralogy results also identified fluorspar in both gallium-containing samples, with 34.00 and 26.38% fluorite, equivalent to calcium fluoride, respectively.
Chief executive officer Cedric Simonet added that US Government support would strengthen Altona’s position in discussions with other “strategic stakeholders across the value chain”.
“Rare earths, gallium, and fluorspar are all recognised as essential to defence, technological development, and decarbonisation of energy sources.
“With its diverse geology and commodities, Monte Muambe is uniquely positioned to contribute on all three fronts.
“The combination of this development and of the strong backing of our investors gives us a high degree of confidence as we accelerate our work programmes.”
Altona additionally noted that in December 2024 principal global supplier China banned gallium exports to the US.