Altona Rare Earths Plc subsidiary Monte Muambe Mining has been accepted as a member of the Chamber of Mines of Mozambique (CMM).
The industry group, formed by large international miners, is regularly involved in consultations with the government and other stakeholders.
Altona, via Monte Muambe, is a natural addition to the prestigious business advocacy group, said chief executive Cedric Simonet. “
“I am delighted that our subsidiary Monte Muambe Mining Limitada has joined the Chamber of Mines. Mozambique is a mature mining country, where the Mining Industry has a bright future ahead, provided it remains united and proactively engages with all stakeholders. As a key player in Mozambique, it was only natural for Altona, through its local subsidiary, to join this prestigious business advocacy organisation.”” Cedric Simonet said.
CMM was founded in 2012 by a number of large international mining companies with the following aims:
· Coordinate private sector mining companies in Mozambique,
· Represent the interests of private sector mining companies to the government, and
· Improve the image of mining in Mozambique.
CMM is regularly involved in consultations with the Government and other stakeholders pertaining to regulatory improvements and other matters affecting the Mining Industry.
Among other advocacy matters, CMM is currently proactively lobbying for the enabling of a business environment favorable to minerals value addition and transformation in Mozambique, for the benefit of both the investors and the country.
About Altona Rare Earths Plc
Altona is a resource exploration and development company focused on Rare Earths in Africa. The Company is listed on the Main Market of the London Stock Exchange.
Rare Earths are a group of 17 chemical elements, many of which are critical to the World’s on-going transition from carbon-based to renewable energies, and to the defence and communication sectors.
The Company currently focuses on the development of Monte Muambe, its flagship Magnet Rare Earths Project, located in Northwest Mozambique.
The project was acquired in June 2021, and the Company has so far drilled over 7,000m, to support its maiden JORC Mineral Resource Statement which will be published in the Third Quarter of 2023.
Altona continues to take advantage of its position in Africa to assess other possible Rare Earths opportunities on the Continent.
Source: Proactive Investors / Altona Rare Earths
