Altona submits mining licence application in Mozambique
Altona’s subsidiary, Monte Muambe Mining Limitada, has submitted a Mining Licence application in Mozambique. This follows the successful completion of Phase 2 of the Monte Muambe Rare Earths project, which was announced on October 18, 2023.
Mining Licence
The company has requested a Mining Licence with a duration of 25 years and if granted, would provide Altona with the necessary permissions to carry out mining operations in the designated area. The application process is subject to the Mining Regulations (Decree no. 31/2015 of 31 December).
According to these regulations, the Minister of Mineral Resources and Energy is required to communicate their decision to the applicant within 190 days. This implies that the company may receive a decision on the Mining Licence within this timeframe.
Cedric Simonet, the CEO of Altona, expressed confidence in the Monte Muambe project. He sees the application as a significant milestone in transforming the project from positive drillhole intercepts to a fully operational Rare Earths mining venture. Simonet highlighted the potential social and economic benefits for the local community in the Tete Province of Mozambique and the nation as a whole.
Altona’s focus is on further de-risking the project, with a particular emphasis on advancing metallurgical studies. This suggests that the company is actively working to mitigate potential risks and enhance the overall viability of the Rare Earths mining operation.
