• Altona lists on US OTCQB to access American capital
• Move supports Mozambique Monte Muambe rare earths project development
• Listing aligns with US push to secure non-China rare earth supply

British rare earths company Altona Rare Earths said Thursday it has listed on the OTCQB Venture Market in the United States, a move aimed at improving access to U.S. capital to support development of its Monte Muambe project in Mozambique.

Previously listed only on the London Stock Exchange, the company had in recent months signalled plans to expand its investor base into North America. Its shares now trade on the OTCQB under the ticker “ANRCF”. The listing, alongside a recent grant from the U.S. Trade and Development Agency (USTDA), underscores Altona’s growing focus on the U.S. market as it advances the Monte Muambe project toward production.

“The rapid approval of our OTCQB listing is not just an administrative milestone; it is a pivotal moment that anchors Altona deeper within the US critical minerals ecosystem. When combined with our USTDA grant, it provides us with a powerful, two-pronged platform to engage with American capital and strategic partners,” Chief Executive Cédric Simonet said.

Growing focus on U.S. markets

Altona’s move reflects a broader trend among Africa-focused mining companies seeking access to U.S. financial markets. In Angola, British firm Pensana Plc, which is developing the Longonjo rare earths project, is considering a Nasdaq listing as early as this year. Mkango Resources is pursuing a similar strategy to support its Songwe Hill project.

These companies aim to become rare earths producers in Africa and are increasingly benefiting from U.S. support, including funding from federal agencies. The trend aligns with Washington’s efforts to secure alternative supply sources and reduce reliance on China, which dominates global supply. Rare earths such as dysprosium and neodymium are critical for magnets used in electric vehicles and wind turbines.

While Pensana and Mkango appear more advanced, Altona still faces several key steps at Monte Muambe, including completing a pre-feasibility study. The study is expected to update project metrics, which currently point to average annual output of 15,000 tonnes of mixed rare earth carbonate over an 18-year mine life. Completing this stage would allow further work to confirm the project’s economic viability before a final investment decision.

Supported by strong demand prospects linked to the energy transition, Altona says it is well positioned to advance the project. It remains unclear how far its increased exposure to U.S. markets will accelerate development at Monte Muambe.

Aurel Sèdjro Houenou