REG - Aterian PLC - Restart of Rwanda Mineral Trading Operations

AterianAnnouncement

10/02/2025 07:00

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RNS Number : 2570W  Aterian PLC  10 February 2025

10 February 2025

 

 

Operational Update:

Restart of Rwanda Mineral Trading Operations

 

Aterian Plc

("Aterian" or the "Company")

 

 

Aterian Plc (LSE: ATN), the critical metal-focused exploration and development
company, is pleased to announce that its wholly owned subsidiary, Eastinco
Limited ("Eastinco"), has resumed mineral trading operations in Rwanda
following the successful implementation of the Inkomane trading system as
established by the Rwanda Mines, Petroleum and Gas Board ("RMB"). The Company
had previously announced the temporary suspension of trading operations due to
challenges encountered with the Inkomane system's initial rollout and a
consequential market activity slowdown. Following wide-scale adoption and
stabilisation of the system, Eastinco is now well-positioned to recommence
trading operations, in accordance with all regulatory requirements.

 

As a fully registered participant in the Inkomane platform, Eastinco remains
committed to upholding the highest standards of regulatory compliance,
transparency, and ethical sourcing in the mineral supply chain. The Company
has worked diligently alongside the RMB and other stakeholders to ensure
adherence to international best practices in mineral trading. Eastinco
continues to operate in full compliance with the Responsible Minerals
Initiative ("RMI") and the OECD Due Diligence Guidance for Responsible Supply
Chains of Minerals from Conflict-Affected and High-Risk Areas. This commitment
ensures robust traceability mechanisms are in place to promote responsible
sourcing and sustainability in mineral trade.

 

The Company also reports that it is in final negotiations with an
international trading house to provide a new trade finance facility and
logistical support for the trading operations with the intent to significantly
increase volumes.

 

Charles Bray, Executive Chairman of Aterian Plc, commented:

"We are pleased to restart our mineral trading activities in Rwanda and
reaffirm our commitment to maintaining the highest standards of transparency
and governance. We will continue to work closely with various stakeholders and
adhere to global best practices thereby continuing to support ethical and
sustainable mineral supply chains. With trading activities now resumed,
Eastinco is positioned to capitalise on renewed market opportunities while
reinforcing its role as a trusted partner in Rwanda's mineral sector. The
Company looks forward to further collaboration with industry participants,
regulators, and stakeholders generally to maintain a secure, efficient, and
transparent mineral trading environment."

 

 

- ENDS -

 

 

This announcement contains information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

 

For further information, please visit the Company's website:
www.aterianplc.com (http://www.aterianplc.com) or contact:

 

Aterian Plc:

Charles Bray, Executive Chairman - charles.bray@aterianplc.com
(mailto:charles.bray@aterianplc.com)

Simon Rollason, Director - simon.rollason@aterianplc.com
(mailto:simon.rollason@aterianplc.com)

 

Financial Adviser and Joint Broker:

Novum Securities Limited

David Coffman

Colin Rowbury

Tel: +44 (0)207 399 9400

 

Joint Broker:

SP Angel Corporate Finance LLP

Ewan Leggat / Adam Cowl

Tel: +44 20 3470 0470

 

Financial PR:

Bald Voodoo - ben@baldvoodoo.com (mailto:ben@baldvoodoo.com)

Ben Kilbey

Tel: +44 (0)7811 209 344

Notes to Editors:

About Aterian plc

www.aterianplc.com (http://www.aterianplc.com)

 

Aterian plc is an LSE-listed exploration and development company with a
diversified African portfolio of critical metals projects.

Aterian plc is actively seeking to acquire and develop new critical metal
resources to strengthen its existing asset base while supporting ethical and
sustainable supply chains as the world transitions to a sustainable, renewable
future. The supply of these metals is vital for developing the renewable
energy, automotive, and electronic manufacturing sectors, which are playing an
increasing role in reducing carbon emissions and meeting climate ambitions
globally.

 

The Company recently entered into a joint venture agreement with Rio Tinto
Mining and Exploration Limited for Rio Tinto to earn into the HCK project in
southern Rwanda to explore and develop a lithium-tantalum-niobium-tin mining
operation. The Company also holds an exploration licence in Rwanda. Aterian
has a portfolio of multiple copper-silver (+ gold) and base metal projects in
Morocco. In January 2024, the Company announced the acquisition of a 90%
interest in Atlantis Metals. This private Botswana registered company holds
one mineral prospecting licence for copper-silver in the Kalahari Copperbelt
and three for lithium brine exploration in the Makgadikgadi Pans region.

 

The Company's strategy is to seek new exploration and production opportunities
across the African continent and to develop new sources of critical mineral
assets for exploration, development, and trading.

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