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Highlights
Altona has initiated a scoping study for the short-term development of a fluorspar mine at Monte Muambe, with results anticipated in Q1 2025.
Field activities have been completed, including a topographic survey and the collection of a representative ore sample for assay and beneficiation testing.
The project aims for an initial production capacity of 15,000 to 20,000 tons of metallurgical-grade fluorspar annually over the first five years.
Altona Rare Earths Plc, (LSE:REE) a resource exploration and development company focused on critical raw materials in Africa, has provided an operational update regarding its scoping study for a fluorspar mining project at Monte Muambe. This initiative aims to leverage low-tonnage, high-grade veins of fluorspar located along the western margin of the Monte Muambe carbonatite intrusion.
As part of the scoping study, the company's team conducted comprehensive field activities throughout October. These efforts included a photogrammetric topographic survey of the Fluorite Zone, resulting in a high-resolution Digital Terrain Model (DTM) that will serve as a foundation for 3D modeling of the mineralization. Additionally, detailed geological mapping of high-grade fluorspar outcrops was performed, culminating in the production of a 300 kg crushed sample of high-grade ore.
This ore sample will be divided into sub-samples for geochemical assays and beneficiation testing. Some of these sub-samples will also be submitted to potential buyers for evaluation. The results of these analyses will be communicated to stakeholders as soon as they become available, contributing valuable data for the scoping study.
The study aims to outline a feasible plan for producing 15,000 to 20,000 tons of metallurgical-grade fluorspar per year over an initial five-year period. The beneficiation process is expected to be straightforward, involving crushing followed by gravity concentration techniques or a Dense Medium Separation (DMS) plant, thereby minimizing capital expenditure. Completion of the study is anticipated in early 2025, with the potential for commercial sales within a year following a favorable investment decision.
Altona's CEO, Cedric Simonet, highlighted the opportunity this project presents for cash inflow and its alignment with the company's diversification strategy, which also includes promising copper exploration projects in Botswana and Zambia. The company aims to expand its revenue generation capabilities through these developments.
