In this episode we chat to Cedric Simonet, Chief Executive Officer at Altona Rare Earths, who are a resource exploration and development company focused on Rare Earths in Africa. Listed on the LSE, they are currently developing the Monte Muambe Rare Earths project in Mozambique.
Cedric is a PhD geologist with over 25 years’ experience in Africa and France managing exploration, development and production projects in the mining and energy industries. He has worked in many jurisdictions in Africa across many commodities and gives us an overview of Altona Rare Earths and what they are looking to achieve in Mozambique and the importance of rare earths in the modern age.
- Altona Rare Earths is a resource exploration and development company focused on rare earths in Africa. They are currently listed on the London Stock Exchange and are developing the Monte Mouambé Rare Earths project in Mozambique.
- The Monte Mouambé project is a rare earth deposit, with two significant ore bodies identified so far. The high-grade ore has an average of 2.5% total rare earth oxide (TiO), making it suitable for short-term development.
- The company recently moved from the Aquis Stock Exchange to the main market of the London Stock Exchange to support its growth and attract long-term investors who are familiar with rare earth projects.
- Rare earth elements have a wide range of uses, including in screens, magnets, wind turbines, and electric vehicles. The market for rare earths is expected to increase fivefold by 2040, driven by the world’s transition to green energy.
“Rare earths are essential to our life. They are essential to the decarbonisation of our energy sources. The fundamentals are solid, including on the long term.”
“The market for rare earth is expected to increase fivefold by 2040. And this is due mostly to the world’s transition to green energy, which is not going anywhere.”
“We are not going to waste time trying to drill, drill, drill to increase our resource statement to hundreds of millions of tons. We know we don’t need this. We need to focus on developments.”
“If African governments can remove the hurdles that go into the way of doing value addition, it will make it a lot easier. We should look into it. And this is what we are doing at Altona.”
ABOUT THE HOST
Rob Tyson is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first-world to third-world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients’ organisations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics