NeoTerra Group (LSE: TERA), formerly Altona Rare Earths, changed its corporate name on 22 June 2026 to reflect a strategy that has moved well beyond rare earths alone. The company’s flagship Monte Muambe project in Mozambique now carries three separate JORC-compliant mineral resource estimates: 13.6 million tonnes at 2.42% total rare earth oxide (TREO), 3.48 million tonnes of fluorspar at 20.6% CaF2, and an inferred gallium resource of 11.73 million tonnes at 54.7 g/t Ga2O3.
NeoTerra Group Company Overview
NeoTerra Group traces back to a 2005 incorporation as Altona Energy, pivoted into rare earth exploration under the Altona Rare Earths name from 2021, and rebranded again in June 2026 once its Mozambique project expanded to cover fluorspar and gallium alongside rare earths. The company is headquartered in London and listed on the London Stock Exchange Main Market, trading as REE until 22 June 2026 and as TERA since. Shares also trade on the OTCQB market in the United States. Chief executive Cedric Simonet, a geologist and Competent Person under the JORC Code, has led the company through the resource expansion that prompted the rebrand.
NeoTerra Group’s stated ambition is to become a diversified African critical minerals developer, combining organic project development at Monte Muambe with selective acquisitions of additional critical raw materials assets. Further detail on the current portfolio and strategy is available on the NeoTerra Group investor hub.
Key Assets and Operations
Monte Muambe sits in Tete Province, northwest Mozambique, held under a 25 year mining concession. The rare earths component targets neodymium and praseodymium (NdPr), the pair of magnet metals covered on REM’s neodymium price and praseodymium price pages, and is currently in prefeasibility, supported by a US$1.875 million grant from the US Trade and Development Agency (USTDA).
The fluorspar resource, published in April 2026 and updated in May 2026, supports an initial mine life of roughly 9.5 years at an annual production rate of 50,000 tonnes of acid-grade concentrate. The gallium resource, published alongside it, is among the first JORC-compliant gallium resources globally and is believed to be the first defined within a carbonatite-hosted system, a departure from the Chinese aluminium-refining byproduct route that supplies most of the world’s gallium today. Drilling in April and June 2026 also confirmed heavy rare earth enrichment, including dysprosium and yttrium, within the fluorspar-hosted mineralisation.
Beyond Mozambique, NeoTerra Group holds the Sesana Copper-Silver Project in Botswana’s Kalahari Copper Belt, located 25 km from MMG’s Khoemacau Zone 5 copper-silver mine, providing exposure outside the rare earths and fluorspar cycle.
Latest Projects and Developments
Metallurgical testwork reported in July 2026 established a two-stage flotation process that produces premium acid-grade fluorspar while separating a heavy rare earth by-product and pre-concentrating gallium by approximately 100% in initial testing. Further gallium recovery studies are under way at SGS Lakefield in Canada and COMEX in Poland. The USTDA-funded rare earths prefeasibility programme is moving toward execution, with engineering groups shortlisted as of the July 2026 update.
On financing, NeoTerra Group agreed a growth capital facility of up to £2 million with Zeus Capital in May 2026, structured in tranches priced at prevailing market levels to limit dilution. Only the first tranche, 12 million shares representing roughly 2.62% of enlarged share capital, had been drawn as of the company’s early May 2026 investor update, with the company stating further drawdowns were expected only at a share price of 4 pence or above. Full detail on the July 2026 operational update, including commentary on tightening Chinese export controls from November 2026, is available via the company’s regulatory news announcement.
NeoTerra Group in the Global Critical Minerals Market
NeoTerra Group occupies an unusual position among African rare earth developers by pairing an NdPr-focused JORC resource with two additional commodities, fluorspar and gallium, from the same tenement. That combination gives the project several potential routes to near-term revenue rather than depending solely on rare earth separation economics, a structural point of difference from single-commodity peers featured among REM’s Africa rare earth projects. The company remains pre-revenue, with development funded through a mix of grant support, equity issuance and the Zeus Capital facility, and its near-term catalysts are the completion of the fluorspar scoping study and further gallium metallurgical results rather than production itself.
NeoTerra Group Company Snapshot
| Metric | Detail |
|---|---|
| Incorporated | 2005 (as Altona Energy); rare earths focus from 2021; renamed NeoTerra Group June 2026 |
| Headquarters | London, United Kingdom |
| Listing | London Stock Exchange Main Market (LSE: TERA); also OTCQB, United States |
| Flagship project | Monte Muambe, Tete Province, Mozambique (25 year concession) |
| Key commodities | Rare earths (NdPr, heavy REE), fluorspar, gallium; copper-silver via Sesana, Botswana |
| Chief Executive | Cedric Simonet |
| US Government support | US$1.875 million USTDA grant for rare earths prefeasibility study |
What does NeoTerra Group produce?
NeoTerra Group is an exploration and development company, not yet a producer. Its flagship Monte Muambe project in Mozambique targets three commodities: rare earth elements (principally neodymium and praseodymium), fluorspar, and gallium, alongside a copper-silver project in Botswana.
Where are NeoTerra Group’s main operations?
The company’s flagship asset is the Monte Muambe project in Tete Province, northwest Mozambique, held under a 25 year mining concession. It also holds the Sesana Copper-Silver Project in Botswana’s Kalahari Copper Belt. The company is headquartered in London.
Is NeoTerra Group the same company as Altona Rare Earths?
Yes. Altona Rare Earths PLC changed its name to NeoTerra Group PLC in June 2026 to reflect its expansion from a rare earth explorer into a broader multi-commodity critical minerals developer. The London Stock Exchange ticker changed from REE to TERA at the same time.
How large is NeoTerra Group’s resource base?
NeoTerra Group holds separate JORC-compliant mineral resource estimates for rare earths, fluorspar and gallium at Monte Muambe, each published at different stages of the project’s development. Current figures for each are covered in the Key Assets section of this article, and are subject to further updates as metallurgical and heavy rare earth workstreams progress.
What is NeoTerra Group currently working on?
The company is advancing a prefeasibility study for the rare earths component of Monte Muambe, supported by US Government funding, while progressing metallurgical testwork aimed at producing acid-grade fluorspar and a gallium concentrate from the same ore body. It is also funding this work through a growth capital facility structured to limit shareholder dilution.
