REG - Aterian PLC - Three new licences in the Kalahari Copperbelt

AterianAnnouncement

07/08/2025 07:00

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RNS Number : 3069U  Aterian PLC  07 August 2025

7 August 2025

 

Aterian Plc

("Aterian" or the "Company")

 

Three new licences in the Kalahari Copperbelt

 

Aterian Plc (LSE: ATN), the Africa-focused critical minerals exploration and
development company, is pleased to announce a significant expansion of its
high-potential copper and silver exploration portfolio following the award of
three new Prospecting Licences ("PLs") in the world-renowned Kalahari
Copperbelt ("KCB"), located in the Republic of Botswana ("Botswana"). The PLs
are held by the Company's 90%-owned subsidiary, Atlantis Metals (Pty) Ltd
("Atlantis"), and target sediment-hosted copper and silver ("Cu-Ag")
mineralisation. The licences are in a region attracting strong global interest
from major copper exploration and mining companies.

 

Highlights:

·      3 Prospecting Licences awarded to the Company's subsidiary,
Atlantis Metals, covering an area of 329.16 km².

·      2 licences lie to the southwest of the Motheo production hub
owned by Sandfire Resources.

·      Significant KCB portfolio expanded to 10 licences covering an
aggregate of 2,298.34 km².

·      The licences target the lower D'Kar Formation, a proven host for
world-class sediment-hosted copper-silver (Cu-Ag) deposits, positioning
Aterian at the forefront of the region's discovery potential.

·      Several historic copper-in-soil geochemical anomalies reported.

·      Botswana remains a top-ranked mining jurisdiction, offering a
stable, mining-friendly environment crucial for value creation.

Aterian Chairman, Charles Bray, commented,

"This strategic expansion represents a meaningful step in enhancing portfolio
value for our shareholders. By increasing our presence in the Kalahari
Copperbelt, Aterian gains exposure to one of the world's most prospective
copper-silver regions. With copper demand accelerating due to the global
energy transition, Aterian is strongly positioned to advance these exploration
assets and contribute to the future supply of critical metals. We remain
focused on advancing our portfolio and pursuing strategic partnerships or
transactions that have the potential to deliver significant value for our
shareholders."

Portfolio now increased to 10 licences in the Kalahari Copperbelt

The three new prospecting licences, covering a total area of 329.16 km², are
granted for an initial three-year term and can be renewed twice thereafter for
an additional two years per renewal. Upon each renewal, 50% of the licence
area must be relinquished. The KCB portfolio now comprises 10 PLs covering a
total area of 2,298.34 km(2). The licences target the highly prospective lower
D'Kar Formation, known to host regionally significant Cu-Ag deposits. Two of
the licences lie to the southwest of Sandfire Resources' Motheo production
hub. The third licence, located towards the northern margin of the KCB, has
several historically reported copper-in-soil geochemical anomalies from work
completed by MOD Resources prior to its acquisition by Sandfire Resources in
2019 for AS$167 million.

 

Next Steps for the New Licences

An independent consultancy is currently acquiring historical airborne
geophysical raw line data for the new licences to reprocess this information
for Atlantis. This effort is expected to improve our understanding of the
underlying geological formations. By mapping the contact between the D'Kar
Formation and the underlying red beds of the Ngwako Pan Formation through
geophysical interpretation, we aim to generate more accurate targets.

 

The Kalahari Copperbelt - A Significant Investment Opportunity

 

The Kalahari Copperbelt in Botswana is emerging as a highly attractive region
for copper exploration and investment due to a compelling combination of
geological potential, a favourable investment climate, and improving
infrastructure. The key investment criteria are:

 

 Exceptional Geological Potential           World-Class Sediment-Hosted Deposits       The KCB hosts significant sediment-hosted copper-silver deposits, like those
                                                                                       found in the Central African Copperbelt, with over 8 million tonnes of
                                                                                       identified contained copper.
                                            Underexplored, Under Cover                 Much of the KCB is covered by Kalahari sands, which have complicated

                                          exploration in the past. However, advancements in techniques such as airborne
                                                                                       geophysics and seismic surveys now enable companies to identify previously
                                                                                       hidden deposits, creating significant opportunities for new discoveries.
                                            Key Mineralisation Targets                 Copper-silver mineralisation is commonly located at the base of the D'Kar
                                                                                       Formation, especially at its contact with the Ngwako Pan Formation.
                                                                                       Exploration targets these geological contacts, frequently linked to fold
                                                                                       hinges and structures that enabled the flow of mineralising fluids.
                                            Presence of Giant Deposits                 The KCB hosts one of only seven global "giant" sediment-hosted copper
                                                                                       deposits, including MMG's Zone 5 deposit.
 Favourable Investment Climate in Botswana  Political Stability                        Botswana is one of Africa's most politically stable and secure countries,
                                                                                       making it crucial for long-term mining investments.
                                            Supportive Mining Policies                 The Botswanan government has demonstrated a pro-mining stance, actively
                                                                                       promoting diversification of its economy beyond diamonds through targeted
                                                                                       exploration of critical minerals. It consistently ranks high in the Fraser
                                                                                       Institute's Annual Survey of Mining Companies for investment attractiveness.
                                            Recent Major Acquisitions and Investments  The KCB has garnered significant international interest and investment,
                                                                                       indicating strong confidence in its potential. Key developments include:

                                                                                       · China's MMG Ltd acquired the Khoemacau Copper Mine in 2024 for US$1.73
                                                                                       billion, with an additional US$700 million planned to double output.

                                                                                       · BHP invested up to $25 million in Cobre Limited in March 2025 for
                                                                                       exploration, including seismic surveys and deep diamond drilling.
 Improving Infrastructure                   Developing Power Grid                      The North-West Transmission Grid Project, commissioned by Botswana Power
                                                                                       Corporation (BPC), aims to provide reliable power to mining operations in the
                                                                                       KCB, addressing essential infrastructure needs for large-scale mining.
                                            Enhanced Accessibility                     The previously remote region is now more accessible, thanks to paved roads
                                                                                       that connect it to major towns like Gaborone and Maun, as well as to Namibia.
                                                                                       Maun also has an international airport for logistics.
 Strategic Importance of Copper             Global Demand                              Copper is vital for the global energy transition, as it is crucial for
                                                                                       electric vehicles and renewable energy systems. The rising demand for copper
                                                                                       makes underexplored resource regions highly attractive.
                                            Diversification for Botswana               Botswana's renewed exploration interest in the KCB helps diversify its mining
                                                                                       economy beyond diamonds, promoting industrialisation and new value chains.

 

Aterian's Strategy

 

Aterian's strategy focuses on developing high-potential critical mineral
assets in Africa, transforming early-stage opportunities into valuable,
low-risk projects. By leveraging regional expertise and adopting a disciplined
approach to acquisition and development, Aterian aims to maximise the economic
potential of its portfolio while adapting to market cycles.

 

The Company is seeking partnerships or divestments with global operators and
investors who require secure access to essential metals for the energy
transition, including copper, lithium, and other battery metals.

 

The Kalahari Copperbelt

 

The Kalahari Copperbelt is one of the world's most prospective areas for
yet-to-be-discovered sediment-hosted copper deposits (USGS, 2020) and hosts
several large stratabound, sediment-hosted copper-silver deposits.

 

The KCB is a northeast-trending Meso- to Neoproterozoic belt that occurs
discontinuously from western Namibia and stretches into northern Botswana
along the northwestern edge of the Paleoproterozoic Kalahari Craton. It is
approximately 1,000 km long and up to 250 km wide, containing copper-silver
mineralisation that is generally stratabound and hosted in metasedimentary
rocks, which have been folded, faulted, and metamorphosed to greenschist
facies during the Damara Orogeny. Typically, the deposits comprise
stratabound, disseminated, and structurally controlled ore bodies that are 5
to 40 m thick and have strike lengths of 1.5 to 4 km. The main target for
copper mineralisation lies towards the base of the D'Kar Formation, near the
contact with the underlying red beds of the Ngwako Pan Formation.

(Source:
https://www.geologyforinvestors.com/khoemacau-africas-newest-copper-silver-mine)

- 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 with the Aterian PLC management team directly by asking questions,
watching video
summaries, and seeing what other shareholders have to say.
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:

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 (0)203 470 0470

 

Financial PR:

Bald Voodoo - 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.

 

The Company has entered into a joint venture agreement with Rio Tinto Mining
and Exploration Limited. Rio Tinto are earning into the HCK project in
southern Rwanda, exploring and developing 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. Aterian holds a 90% interest in Atlantis Metals. This
private, Botswana-registered company holds ten mineral prospecting licences
for copper-silver in the world-renowned 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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