London-listed resource exploration and development company Altona says its subsidiary Monte Muambe Mining has lodged an application for a mining licence, or mining concession, for the Monte Muambe rare earths project, in Mozambique.
The country's Mineral Resources and Energy Minister is expected to communicate its decision regarding the mining licence application within 190 days.
"We are very pleased to have submitted our mining licence application for Monte Muambe, which reflects our unwavering confidence in the project. The application marks a pivotal milestone in our journey to transforming what were, only three years ago, a few positive drill-hole intercepts, into a rare earths mining operation.
"The project will deliver substantial social and economic benefits not only to the local community in the Tete province of Mozambique but also more widely to the whole nation. We look forward to furthering our relationship with the Ministry of Mineral Resources and Energy, as we work towards the approval of the mining licence.
"Our ongoing efforts are focused on further de-risking the project, with particular emphasis on advancing metallurgical studies," says Altona CEO Cedric Simonet.