Altona, a resource exploration and development company focused on Rare Earths in Africa, has announced that the Company has now received formal regulatory approval from the Minister of Mineral Resources and Energy regarding the increase of its holding in Monte Muambe Mining Limitada to 51%.
Monte Muambe Mining Limitada is the Mozambican subsidiary holding the prospecting licence encompassing the Monte Muambe Project.
Cedric Simonet, CEO of Altona, commented:
“We are very pleased with this promising progress.
“The speed with which approval was granted by the Ministry shows the level of support our Monte Muambe project has.”