RE: Good funding18 Aug 2025 07:07
US Policy Shift Opens Door to Altona's Monte Muambe Rare Earths Project Funding
Altona is pleased to announce that, following a recent policy shift, the US Government has re-engaged with the Company on the possibility of providing funding support for the Monte Muambe rare earths prefeasibility study. A formal project proposal has now been submitted to the USTDA, and the Company anticipates material progress over the coming weeks.
This development aligns with Altona's strategy to secure long-term partnerships across the critical raw materials value chain for Monte Muambe. The Company will continue to keep shareholders updated as discussions advance.
This comes in the context of the US Department of Defence ("US DoD") commitment to invest US$400 million through a landmark public-private agreement with MP Materials, a US rare earths mining company, to strengthen the US domestic rare earths supply chain and to reduce reliance on China. US DoD has become MP Materials' largest shareholder, and the partnership includes a long-term purchase agreement establishing a US$110 per kg floor price for Neodymium-Praseodymium Oxide, thus underlining the US Government's tangible commitment towards supporting sustainable and independent rare earths supply.