Africa-Press – Mozambique. U.S. trade agency plans to support Altona’s Monte Muambe rare earths project, strengthening its strategic role.
Expected drill results could confirm Monte Muambe’s fluorspar as a standalone, commercially significant mining operation
Altona Energy has issued an update.
Altona Rare Earths has secured an in-principle commitment of support from the U.S. Trade and Development Agency for its Monte Muambe rare earths project in Mozambique, underscoring the asset’s strategic importance in critical minerals supply chains. The backing, to be formalised through a grant agreement, is aimed at defining the technical and financial pathway to develop production of rare earth elements used in permanent magnets, defence systems, and energy transition technologies.
The USTDA move aligns with a wider U.S. push to reshape global critical minerals markets and build resilient supply chains through new initiatives, bolstering Altona’s positioning as a potential alternative source of rare earths and fluorspar. Altona also expects imminent assay results from a recent fluorspar and gallium drilling campaign at Monte Muambe, which it believes could confirm a standalone, commercially significant fluorspar project, further enhancing the project’s appeal to strategic and industrial stakeholders.
9 February 2026
Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, is pleased to announce that the United States Government, through the United States Trade and Development Agency (USTDA), has confirmed its intention to support the Monte Muambe Rare Earths project in Mozambique.
The confirmation was provided by Mr Thomas Hardy, USTDA’s Deputy Director and Chief Operating Officer, on 8 February 2026 during his address at the High-Level Engagement on U.S. Support for Critical Mining Projects in Sub-Saharan Africa meeting in Cape Town. The event was attended by the Company’s CEO, Cedric Simonet, and Chairman, Harvey Sinclair.
USTDA’s support is intended to help define the technical and financial pathway for the development of Monte Muambe, targeting the production of rare earth elements vital for high-strength permanent magnets, defence applications and energy transition technologies. This support is subject to the execution of a formal grant agreement, which is currently in preparation.
This commitment from USTDA coincides with a broader announcement by the United States Government at the 2026 Critical Minerals Ministerial. The announcement outlined a tangible commitment to reshape the global critical minerals market through the Forum on Resource Geostrategic Engagement (FORGE), alongside the mobilisation of significant and unprecedented resources to secure resilient and sustainable mineral supply chains.
In the meantime, the Company expects to receive assay results from its recent and extensive fluorspar and gallium drilling campaign in the near future. The Company anticipates that these results, together with the resulting mineral resource estimate, will demonstrate that the fluorspar component of the Monte Muambe project represents a viable mining project of significant interest.
Commenting on the announcement, CEO Cedric Simonet said: “This commitment of support from USTDA is a powerful external validation of the Monte Muambe project’s strategic quality and economic potential. It highlights the strong, high-level interest from a leading U.S. government institution in developing a secure, alternative source of rare earths. This partnership is a clear endorsement of our progress in Mozambique, reinforces our shared objective to advance a project of growing strategic relevance, and highlights the role Monte Muambe can play in building more resilient global supply chains for both rare earths and fluorspar.”
More about Altona Energy
Altona Rare Earths is a London Main Market-listed exploration and development company focused on critical raw materials projects across Africa, including rare earths, fluorspar, gallium, copper, and silver. Its flagship Monte Muambe project in Mozambique hosts multi-commodity mineralisation with a 25-year mining licence, while the company also advances the Sesana copper-silver project in Botswana.
At Monte Muambe, Altona has established a maiden JORC resource for rare earths, is progressing a scoping-level development plan, and aims to fast-track production of acid-grade fluorspar for clean energy, high-tech, and industrial applications. The company is evaluating gallium recovery from fluorspar tailings and continues to seek additional assets that fit its strategy of near-term monetisation combined with long-term growth in critical minerals supply.
