Business
USTDA Grant Agreement for Monte Muambe Signed
Altona Rare Earths PLC has formally executed a grant agreement with the US Government through the United States Trade and Development Agency (USTDA), which will provide US$1,875,000 to fund metallurgy and process engineering for the Monte Muambe rare earths project in Mozambique. This non-dilutive funding will support a drilling campaign, metallurgical testing, environmental and commercial studies, engagement with potential US off-take partners, and the development of an updated financial model, all aimed at de-risking critical workstreams and strengthening Western supply chains for rare earths. Disclaimer*
About this update from Altona Rare Earths Plc
[{"type":"text","content":"\n\n27 February 2026\n \nALTONA RARE EARTHS PLC\n(\"Altona\" or \"the Company\")\n \nUSTDA grant agreement for Monte Muambe rare earths project signed\n \nAltona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that its subsidiary Monte Muambe Mining Limitada has formally executed a grant agreement (\"Agreement\") with the US Government, through the United States Trade and Development Agency (\"USTDA\").\n \nThe Agreement was signed today at the United States Embassy in Maputo in the presence of Mrs. Sarah Troutman, Deputy Assistant Secretary, Bureau of African Affairs, US Department of State. This signing represents a significant milestone and marks the formal commencement of the strategic partnership with the United States Government to advance the Monte Muambe rare earths project in Mozambique.\n \nStrategic Partnership and Funding\n \nUnder the terms of the Agreement, USTDA will provide a grant of US$ 1,875,000 to fund the metallurgy and process engineering components of the Monte Muambe rare earths prefeasibility study.\n \nThe funded program will include:\n· A targeted drilling campaign to obtain representative metallurgical samples\n· Comprehensive metallurgical testing and engineering studies covering comminution, beneficiation and hydrometallurgy, including the separation of NdPr oxide from mixed rare earth carbonate\n· Associated environmental and commercial studies\n· Engagement with potential US off-take partners\n· The development of an updated financial model\n \nThe grant fully funds these critical de-risking workstreams, which will run in parallel with the on-going development of the Company's high-grade fluorspar deposits. Selection of the contractor(s) to undertake the funded work will commence in due course.\n \nStrengthening Critical Mineral Supply Chains\n \nThomas R. Hardy, USTDA's Deputy Director, commented: \"Securing access to rare earths is essential for America's defense industrial base and our technological edge. By partnering on the Monte Muambe project, we're advancing both countries' strategic priorities: strengthening U.S. supply chain security while supporting Mozambique's goal of be...