Altona Rare Earths Plc (LSE:REE) has entered into an agreement to acquire Phelps Dodge Mining (Zambia) Ltd from Sustineri Group Ltd for $0.19 million on March 28, 2024. The consideration $0.04 million on completion, being the later of the date of the acquisition of the Target and the date of renewal of the Licence, payable in Shares at the 30 day volume-weighted average price, from which will be deducted any costs incurred by Altona to renew the Tenement and to transfer the Target; and $0.15 million, 12 months after completion, payable in Shares at the 30 day volume-weighted average price. David Coffman and Daniel Harris of Novum Securities Ltd acted as Financial advisor in Transaction.