NeoTerra Includes Heavy Rare Earth Elements in Mineral Resource Estimate for Monte Muambe Project in Mozambique

04:13 AM EDT, 07/16/2026 (MT Newswires) -- NeoTerra Group (TERA.L) updated the mineral resource estimate for its Monte Muambe project in Mozambique to include heavy rare earth elements. The updated estimate stands at inferred mineral resources of 3.47 million tonnes at a grade of 3,070 parts per million total rare earth oxides, 770 ppm heavy rare earth oxides, and 548 ppm yttrium oxide, the critical minerals explorer and developer said Thursday. The company expects the mining operation to potentially produce up to 650 tonnes of heavy rare earth elements-rich concentrate, containing 80 tonnes of yttrium oxide, along with a planned production of 50,000 tonnes of acid-grade fluorspar. The projected revenue for the fluorspar project can potentially jump up to 40% over the mine life from the additional product stream.