REG - Aterian PLC - Tantalum Growth & Funding Partnership, Rwanda

AterianAnnouncement

09/02/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260209:nRSI1092Sa&default-theme=true

RNS Number : 1092S  Aterian PLC  09 February 2026

9 February 2026

 

Aterian plc

("Aterian" or the "Company" or the "Group")

 

Tantalum Growth & Funding Partnership, Rwanda

 

Aterian plc (AIM: ATN), the Africa-focused critical metals exploration and
development company, announces that it has agreed Heads of Terms ("HoT") for a
transformational strategic commercial and funding partnership relating to the
sale, marketing, and funding of its Rwandan-origin tantalum concentrates.

 

The arrangement will apply to 100% of the Company's saleable tantalum
concentrate production consolidated through its subsidiary, Eastinco Ltd, in
the Republic of Rwanda ("Rwanda"), and is expected to commence from February
2026, subject to the execution of definitive agreements and customary
approvals.

 

This partnership represents the most significant commercial agreement in
Aterian's history and marks a decisive step change in the Group's trading
capability, liquidity profile, and ability to scale operations.

 

Key Highlights:

·      50/50 profit and loss share on international sales of tantalum
concentrates, providing direct exposure to global pricing and margins

·      Comprehensive working capital solution, removing all material
funding bottlenecks across the trading cycle:

o  Significantly reduced equity requirement for same-day facility funding;

o  In-warehouse inventory financing in Kigali;

o  Working capital facility funding material purchases

·      Immediate acceleration of trading capacity, enabling higher
volumes without an overly constrained balance sheet

·      Centralised international marketing, sales, and logistical
support to global end customers

·      Replaces the existing sales and marketing arrangement for new
material

 

 

Charles Bray, Executive Chairman of Aterian plc, commented:

"This is a landmark transaction for Aterian and the most significant
commercial agreement the Company has entered into since listing on the LSE. It
represents a step change in our ability to trade, scale, and generate cash,
with a dramatically reduced equity capital contribution from Aterian.

The structure removes the single biggest impediment we have faced to date,
that of working capital constraints with an undervalued share price, and
allows us to materially accelerate trading volumes immediately without
balance-sheet stress or shareholder dilution.

Beyond liquidity, this partnership embeds Aterian within the global tantalum
supply chain, providing direct exposure to international pricing, margins and
long-term commercial relationships. It transforms Aterian from a somewhat
constrained trader into a scalable, cash-generative platform.

The Board believes this structure supports sustainable growth, enhances
shareholder value and builds a stronger foundation for the Company's future
development."

 

Strategic Impact

This agreement fully resolves Aterian's historical working capital constraints
and fundamentally changes the economics, pace and scalability of the Group's
trading operations.

 

The structure provides:

·      Predictable, scalable liquidity aligned with volume growth;

·      Significantly improved cash flow visibility and resilience;

·      The ability to fund procurement and inventory without expensive
equity dilution; and

·      A materially reduced balance-sheet burden.

 

Crucially, the partnership enables Aterian to transition from opportunistic
trading to a scaled, institutional-grade trading platform capable of rapidly
growing volumes while maintaining disciplined risk management and full
compliance.

 

Strategically, Aterian is now embedded directly within the global tantalum
value chain, moving beyond a simple producer or aggregator model and into a
long-term, integrated commercial role with direct access to international
markets, pricing dynamics and downstream demand.

 

ESG and Responsible Sourcing

All material will continue to be sourced exclusively from Rwanda under
internationally recognised responsible sourcing frameworks, including ITSCI,
OECD and RMI standards, ensuring full traceability, ethical supply chains and
regulatory compliance.

 

Next Steps

Definitive agreements are now being progressed, subject to due diligence,
regulatory approvals and final board approvals. Further updates will be
provided as work progresses.

 

 

- 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).

Engage directly with the Aterian PLC management team by asking questions,
watching video summaries, and seeing what other shareholders have to say.
Please navigate to our interactive investor
hub here:
https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 

For further information, please contact:

 Investor questions on this announcement

 We encourage all investors to share questions   https://aterianplc.com/s/fcf8eb (https://aterianplc.com/s/fcf8eb)

 on this announcement via our investor hub

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:

AlbR Capital Limited

David Coffman / Dan Harris

Colin Rowbury

Tel: +44 (0)207 7469 0930

 

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

 

Subscribe to our news alert service: https://atn-l.investorhub.com/auth/signup
(https://atn-l.investorhub.com/auth/signup)

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
increasingly important in reducing carbon emissions and meeting global climate
ambitions.

 

Aterian has a portfolio of multiple copper-silver (+ gold) projects in
Morocco. Aterian holds a 90% interest in Atlantis Metals, a private
Botswana-registered company holding eleven mineral prospecting licences for
copper-silver in the world-renowned Kalahari Copperbelt and three for lithium
and salt brine exploration in the Makgadikgadi Pans region. The Company also
holds an exploration licence in southern Rwanda, where it is evaluating the
tantalum and niobium opportunity, in addition to further exploring for
pegmatite-hosted lithium.

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGRBXGDDCXGDGLL



            Copyright 2019 Regulatory News Service, all rights reserved