IN BRIEF: Altona inks USD1.9 million grant deal with US government
Altona Rare Earths PLC - Africa-focused resource exploration and development - Subsidiary Monte Muambe Mining Limitada executes a grant agreement with the United States Trade and Development Agency. "This signing represents a significant milestone and marks the formal commencement of the strategic partnership with the United States government to advance the Monte Muambe rare earths project in Mozambique," Altona says. Under the terms of the Agreement, USTDA will provide a grant of USD1.9 million to fund the metallurgy and process engineering components of the Monte Muambe rare earths prefeasibility study. Funded works include: a targeted drilling campaign to obtain representative metallurgical samples; comprehensive metallurgical testing and engineering studies; engagement with potential US off-take partners; and the development of an updated financial model. Altona says the works will run alongside the ongoing development of its high-grade fluorspar deposits. Selection of one or more contractors to undertake the funded work will commence in due course. Read More