RCS - Metals One PLC - Accelerated First Production at Chilalo Project

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RNS Number : 5568E  Metals One PLC  23 October 2025

23 October 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Accelerated First Production at Chilalo Project

 

Revised development timeline brings forward first ore production to October
2027

 

Metals One (AIM: MET1), a critical and precious metals exploration and
development company, is pleased to note that Evolution Energy Minerals (ASX:
EV1) ("Evolution"), in which Metals One holds a 16.9% stake, has announced
that it has committed to an accelerated development schedule for its 84%-owned
Chilalo Graphite Project in Tanzania, following constructive engagement with
the Government of the United Republic of Tanzania and submission of an updated
project implementation plan. Evolution also provided an update on the
advancement of development and exploration activities across its Chilalo
Graphite Project and Chikundo Copper Project.

 

Highlights

 

·    Evolution has committed to an accelerated development schedule,
targeting first ore mining by October 2027

·    Evolution is planning a resource development drilling programme, to
upgrade and expand Chilalo graphite resource

·    The Chikundo Copper Project exploration programme is being planned
with soil sampling, ground geophysics and follow-up drilling

·    Downstream value adding studies are underway to assess in-country
downstream processing opportunities

·    Funding discussions are being advanced with African, European, and
Middle Eastern banks and sovereign funds

 

Evolution has announced a revised development timeline that brings forward
first ore production to October 2027, representing a clear pathway to deliver
one of Africa's most advanced undeveloped natural graphite projects. Metals
One acquired its 16.9% stake in Evolution in September 2025 through a
combination of market purchases and Rights Issue participation.

 

Evolution's full press release is available to view here.
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03010807-6A1291523&v=undefined)

 

Dan Maling, Managing Director of Metals One, commented:

 

"It is fantastic to see Evolution's confidence in the strength of the Chilalo
Graphite Project through its decision to accelerate it into production.
Chilalo is strategically positioned to benefit from global supply
diversification on graphite, and it stands out among the limited number of
graphite projects outside China that are nearing development, supported by
robust ESG principles, strong backing from the Tanzanian government, and clear
exploration potential."

 

Enquiries:

 

 Metals One Plc                                           info@metals-one.com (mailto:info@metals-one.com)

 Daniel Maling, Managing Director                         +44 (0)20 7981 2576

 Beaumont Cornish Limited (Nominated Adviser)             +44 (0)20 7628 3396

 James Biddle / Roland Cornish
 Capital Plus Partners Limited (Broker)                   +44 (0)207 432 0501

 Jonathan Critchley
 Vigo Consulting (UK Investor Relations)                  IR.MetalsOne@vigoconsulting.com

 Ben Simons / Fiona Hetherington / Anna Stacey            +44 (0)20 7390 0230

 Fairfax Partners Inc (North America Investor Relations)  connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

                                                          +1 604 366 6277

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects underpinned by the Western World's urgent need for reliably and
responsibly sourced raw materials, and record high gold prices. Metals One's
shares are listed on the London Stock Exchange's AIM Market (MET1).

 

Map of Metals One projects/investments

 

 

 

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(https://www.linkedin.com/company/metals-one-plc/)

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