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In October 2023, NeoTerra published a Competent Person Report including a scoping study for the production of a synthetic Mixed Rare Earths Carbonate, including a maiden JORC-compliant mineral resource estimate totalling 

, 58% of which is in the Indicated category.

The results of the scoping study provided an encouraging initial validation of the Project's potential, with highlights including:

Payback from first production: 2.5 years.

Production of 15,000 tonnes per annum, on average, of Mixed Rare Earth Carbonate ("MREC"), at an average price of US$ 13,558.4 per tonne of MREC.

Open pit mining operation, 750,000 tonnes of ore extracted and processed per annum.

Two stage recovery process, consisting of comminution and flotation, followed by hydrometallurgy.

The project is now in the Prefeasibility stage, with a focus on metallury and process engineering. 

This work is funded through a $1.85 million grant from USTDA

. As at 1 June 2026, bids from qualified contractors for the execution of the project have been received and are being evaluated, with metallurgical sampling expected to take place in Q3 2026. 

The planned work encompasses 13 tasks covering technical, commercial, environmental and financial aspects of the project. Besides process parameters and product samples, a key deliverable from this work will be an update of the 2023 techno-economic model,

 which will result in an updated project valuation.

The complete Prefeasibility Study will include an upgrade of the Mineral Resources Estimate (as only 2 of the 11 identified targets have been drilled extensively), and the preparation of an Ore Reserves Statements.

significant potential for an increase in tonnage for future MRE updates

, which the Company will achieve through:

Down-dip drilling at Target 1 and Target 4.

Resource drilling at Target 3 and Target 9, which have already shown the presence of high-grade ore.

On-going follow-up exploration on other targets generated through the soil sampling survey done in 2022 and geological mapping and modeling.  

A world class Neodymium and Praseodymium resource

Monte Muambe, Mozambique, is a World-Class carbonatite-hosted neodymium and praseodymium mine development project

Monte Muambe is a 4km wide circular structure containing a large carbonatite intrusion, located in an uninhabited part of the Tete Province. 

The project is held under a Mining Concession (mining licence) valid until 

, with a surface area of 39.39 km2, and boasts a JORC mineral resource estimate of 

The project is currently in the Prefeasibility Study phase, and has received the 

support of the United States government in the form of a US$1.875 grant from USTDA

. The funds will be used for the metallurgy and process engineering components of the Prefeasibility Study.

Beside the main neodymium-praseodymium resource, heavy rare earth enrichment has also recently been identified in association with fluorspar ore (see fluorspar project page).

The Monte Muambe project is located in the Tete Province. This province hosts several operating coal mines, a major iron mining and steel manufacturing project, and many exploration projects for a wide range of commodities. The project area is easily accessible, 30km off a major tarred road linking Mozambique to Malawi and with access to a railway to the port of Nacala. 

The Tete Province has ample power supply with the presence of the 2GW Cahora Bassa hydroelectric power plant and an advanced stage 300MW coal-fired power station project.

Mozambique is a stable country with a well-developed exploration and mining industry, trained workforce, and available drilling and exploration contractors. Security in Tete Province and in the project area is excellent.

Monte Muambe REE Project News