Highlights

• Altona Rare Earths shares surged over 60% after the U.S. Trade & Development Agency confirmed support for the Monte Muambe rare earths project in Mozambique.
• The USTDA backing aims to define technical and financial pathways for the early-stage project.
• The project combines rare earth elements with potential fluorspar and gallium that could be commercially viable independently.
• The announcement reinforces Africa's emergence as a critical non-Chinese rare earth supply frontier.
• Projections show Africa could supply 9-10% of global rare earth output by the late 2020s.

Altona Rare Earths PLC (opens in a new tab) shares surged more than 60% after confirmation that the U.S. government intends to support development of the Monte Muambe rare earths project (opens in a new tab) in Mozambique, underscoring Africa’s growing importance in diversified global supply chains. The commitment was disclosed by the U.S. Trade & Development Agency (opens in a new tab) (USTDA), with Deputy Director Thomas Hardy (opens in a new tab) confirming support during remarks in Cape Town.

In Cape Town for the conference: Deputy Director Thomas Hardy

The USTDA backing is explicitly developmental, not a final investment decision. Its purpose is to help define the technical and financial pathway for Monte Muambe—an early-to-mid stage project combining rare earth elements with fluorspar and gallium potential. Altona expects upcoming assay results to clarify the commercial viability of the fluorspar component, which management believes could stand alone as a viable mining operation.

For Rare Earth Exchanges™, the announcement (opens in a new tab) via Alliance News fits a broader pattern. Africa is emerging as a strategic frontier for non-Chinese rare earth supply, with multiple projects across southern and eastern Africa attracting U.S., EU, Japanese, and Australian engagement. REEx has previously reported that Africa could supply 9–10% of global rare earth output by the late 2020s, provided projects successfully navigate financing, permitting, and execution risks.

Monte Muambe’s U.S. backing highlights how African projects are increasingly being viewed not as speculative outliers—but as essential building blocks in resilient, geopolitically diversified rare earth supply chains.

Source: Alliance News, Feb. 9, 2026 (Michael Hennessey); Rare Earth Exchanges™, Africa’s Emerging Role in the Global Rare Earth Supply Chain (Aug. 25, 2025).