Altona Rare Earths (LSE:REE) has released the final assay results from its 2025 drilling programme at the Monte Muambe project in Mozambique, highlighting the presence of substantial heavy rare earth element mineralisation associated with the project’s Fluorite Zone.
The drilling campaign confirmed widespread enrichment of heavy rare earth oxides within fluorspar-bearing zones, with results including broad mineralised intervals grading up to 2,677ppm heavy rare earth oxides over 30 metres. The company also reported dysprosium oxide grades comparable to those found in established heavy rare earth development projects, reinforcing the significance of the discovery.
A key outcome of the programme has been the identification of xenotime, a mineral that hosts heavy rare earth elements and was not previously recognised within Monte Muambe’s primary neodymium-praseodymium resource. The presence of xenotime suggests the potential to recover a separate heavy rare earth concentrate as a by-product of future fluorspar production operations.
Management believes this development could create an additional revenue stream without the need to develop a standalone heavy rare earth mining operation. As a result, the company has commenced detailed geological modelling of the mineralised zone and is evaluating whether to establish a dedicated heavy rare earth resource estimate. If pursued, such a resource could significantly enhance the overall value and strategic importance of the Monte Muambe project.
The company noted that the addition of a heavy rare earth component would effectively introduce a fourth strategic commodity to the project alongside its existing rare earth, fluorspar and gallium potential. This diversification could improve project economics and strengthen Monte Muambe’s position within the global critical minerals supply chain.
Further metallurgical testing and resource modelling are now underway to determine the extent to which the heavy rare earth mineralisation can be economically recovered. Positive outcomes from this work could improve the project’s attractiveness to future strategic partners, customers and potential offtake counterparties.
Despite the encouraging exploration results, Altona continues to face financial challenges typical of development-stage resource companies. The business remains pre-revenue and continues to report operating losses and negative cash flow, while leverage increased during 2025. Market indicators have also remained weak in the short term, with negative momentum signals and a valuation profile constrained by the absence of earnings and dividend income.
More About Altona Rare Earths
Altona Rare Earths is a London-listed exploration and development company focused on critical raw materials across Africa. Its portfolio is centred on rare earth elements, fluorspar and gallium, commodities that are increasingly important to clean energy technologies, advanced manufacturing, defence applications and industrial supply chains.
The company’s flagship Monte Muambe project in Mozambique hosts JORC-compliant resources and operates under a 25-year mining licence. The project has also attracted support from U.S. government-backed initiatives focused on securing critical mineral supply chains. In addition, Altona owns the Sesana copper-silver project in Botswana, providing further exposure to strategic metals. Through a diversified exploration and development strategy, the company aims to balance near-term commercial opportunities with long-term growth across the critical minerals sector.
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