Business
Monte Muambe Holding Increased To 51%
Monte Muambe Holding Increased To 51%.
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n6 December 2023\n \n \nALTONA RARE EARTHS PLC\n(\"Altona\" or \"the Company\")\n \n \nMONTE MUAMBE HOLDING INCREASED TO 51%\n \nAltona (LSE: REE), a resource exploration and development company focused on Rare Earths in Africa, is pleased to announce that, following the successful completion of Phase 2 of the Monte Muambe Rare Earths project as announced on 18 October 2023, its holding in Monte Muambe Mining Limitada has now increased from 20% to 51%.\n \nMonte Muambe Mining Limitada is the Mozambican subsidiary holding the prospecting license encompassing the Monte Muambe Project.\n \nThe transfer is subject to the final approval by the Minister of Mineral Resources and Energy, which the Company has sought.\n \nCedric Simonet, CEO of Altona, commented: \"We are delighted with this progress and the increase of the Company's holding in Monte Muambe Mining Limitada to 51% materialises the rewards of the completion of Phase 2, representing an important step in de-risking the project further.\"\n \nTo subscribe for RNS alerts, please visit: https://www.altonare.com/investors/regulatory-news-alerts/\n\n-ends-\n \nAltona Rare Earths Plc\nCedric Simonet, CEO +44 (0) 7778 866 108\nChristian Taylor-Wilkinson, Business Development +44 (0) 7795 168 157\n \nNovum Securities Ltd (Corporate Finance) +44 (0) 20 7399 9400\nDavid Coffman &nbs...