Altona Rare Earths PLC - London-based mining company focused on east and central Africa - On Monday, terminates its interest in the Chambe Rare Earths Project in Malawi. Company says it "follows strict investment criteria for all its acquisitions" and "in this instance, certain of these criteria were not being met by its local joint venture partner, primarily the completion of the conditions precedent as set out by the joint venture agreement, leading to the board’s decision to step away from the project". Adds only minimal costs have been spent on the project to date.
Current stock price: 11.15 pence
12-month change: up 15%
By Heather Rydings; heatherrydings@alliancenews.com
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