Client NewsAltona Rare Earths plc – Minister Approval Secured For Monte Muambe Holding
Altona (LSE: REE), a resource exploration and development company focused on Rare Earths in Africa, is pleased to announce that the Company has now received formal regulatory approval from the Minister of Mineral Resources and Energy regarding the increase of its holding in Monte Muambe Mining Limitada to 51%, details of which were announced by the Company on 6 December 2023.
Monte Muambe Mining Limitada is the Mozambican subsidiary holding the prospecting license encompassing the Monte Muambe Project.
Cedric Simonet, CEO of Altona, commented:
“We are very pleased with this promising progress.
“The speed with which approval was granted by the Ministry shows the level of support our Monte Muambe project has.”
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
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