Altona Rare Earths Plc (LSE:REE) has completed an expanded drilling campaign at its Monte Muambe project in Mozambique, increasing total drilled metreage by around 70% following encouraging results and the identification of additional exploration targets.
The company said the positive outcomes from the programme justified the larger scope of work and have strengthened confidence in the project’s resource potential. Alongside exploration activity, Altona is continuing discussions with the U.S. Trade and Development Agency regarding potential funding support for a rare earths prefeasibility study.
Looking further ahead, Altona is also evaluating opportunities to acquire new mineral assets in 2026 as part of its broader growth strategy. Management believes these initiatives will enhance the company’s positioning within the critical raw materials sector, which is seeing increasing strategic importance globally.
More about Altona Energy
Altona Rare Earths Plc is a London Main Market-listed exploration and development company focused on critical raw materials across Africa. The group is pursuing a diversified portfolio strategy, targeting assets with both near-term monetisation potential and longer-term growth. Its Monte Muambe project in Mozambique hosts rare earths, fluorspar and gallium mineralisation, with plans to accelerate fluorspar production and assess gallium recovery. Altona also holds the Sesana Copper-Silver Project in Botswana, supporting its wider growth ambitions.
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