Altona Rare Earths PLC (LSE:REE) has announced a binding option agreement for the Sesana copper-silver project in Botswana, a strategic move to diversify its portfolio beyond the volatile rare earths market. The project, covering approximately 274 square kilometers in the Kalahari Copper Belt, is near the Khoemacau copper-silver mine and other significant discoveries, enhancing its potential value to Altona's portfolio.
Cédric Simonet, CEO of Altona Rare Earths PLC, highlighted the role of advanced geophysical and geochemical methods in exploring the Sesana project. Airborne surveys have identified promising geological formations, suggesting the presence of valuable mineral deposits. This exploration is part of Altona's strategy to manage market risks by diversifying into copper, known for its market stability and mature industry, offering clearer valuation metrics for investors compared to rare earths.
The option agreement is structured in three phases, beginning with a one-year exploration phase that could lead to drilling activities for resource definition. This approach aims to stabilize Altona's portfolio against the backdrop of fluctuating rare earths markets. The company remains committed to its Monte Muambe rare earths project in Mozambique while expanding into copper, demonstrating a balanced strategy to navigate market uncertainties.
For more information on Altona Rare Earths PLC's projects, visit https://www.altonaenergy.com. This strategic diversification underscores Altona's proactive measures to ensure a stable and diversified investment portfolio amidst the challenges of the rare earths market.
