REG - Switch Metals PLC - Commissioning of Pilot Wash Plant Completed

Switch MetalsAnnouncement

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RNS Number : 4741L  Switch Metals PLC  15 December 2025

15 December 2025

 

Switch Metals plc

("Switch Metals" or the "Company")

 

Commissioning of Pilot Wash Plant Completed

A key step towards Resource definition

 

Switch Metals (LSE: SWT), the critical metals focused mining company operating
in Côte d'Ivoire, is pleased to announce that commissioning of its pilot wash
plant at the Issia Project has been completed and the plant is now fully
operational.

This milestone represents a key step in Switch's strategy to establish a
scalable and ethical source of tantalum, a critical metal for the global
electronics and aerospace industries, at a time when an estimated 60-70% of
global supply continues to originate from the DRC and Rwanda, countries
associated with increasing supply-chain risk, ESG scrutiny and traceability
challenges.

 

Highlights

·    Pilot wash plant at Issia successfully commissioned and fully
operational;

·    Marks a transition from exploration phase to structured resource
definition and early commercial validation;

·    Supports delivery of a maiden Mineral Resource Estimate ("MRE") at
Issia targeted for early 2026;

·    Enables processing of extensive eluvial material already collected
during the pitting programme;

·    Resource target zones are well understood and initial indications are
encouraging; and

·    Assay results will be announced in batches over the coming weeks.

 

Karl Akueson, CEO of Switch Metals commented:

"The successful commissioning of our pilot wash plant at Issia marks a pivotal
moment as we transition from surface exploration into structured resource
definition. Over several years, we have assembled and secured a district-scale
land position at Issia covering more than 1,000 km², an area comparable to
around two-thirds of Greater London.

"Within this footprint, the Badinikro permit alone covers 112 km² and hosts
shallow eluvial coltan mineralisation confirmed through extensive pitting. The
pilot wash plant now allows us to process the large volume of material
collected, generate the datasets required for our maiden resource and produce
representative concentrates as part of the MRE process.

"With global tantalum supply still dominated by the DRC and Rwanda, and
downstream users increasingly focused on ethical and traceable sourcing, Côte
d'Ivoire offers a compelling alternative.

"I look forward to updating shareholders as the tantalum assay results become
available and as we progress towards delivery of our maiden Mineral Resource
Estimate, while continuing to demonstrate the scale of the opportunity at
Issia."

 

Strategic Context

Tantalum is a critical metal used in capacitors, semiconductors and aerospace
applications. It is typically produced from coltan (columbite-tantalite)
mineralisation, with eluvial and alluvial coltan deposits (near-surface
material concentrated by natural erosion and water transport) historically
accounting for a significant proportion of global supply.

Despite its strategic importance, global supply remains highly concentrated in
Central Africa and is dominated by small-scale artisanal production. As
downstream users increasingly prioritise traceable and conflict-free sourcing,
the need for alternative supply from stable jurisdictions is becoming
increasingly acute.

Côte d'Ivoire is a country with a strong mining code, effective
infrastructure and a track record of supporting industrial-scale mining
projects. The Issia Project hosts extensive eluvial and alluvial coltan
mineralisation, the same material style that underpins existing global
tantalum supply, but within a jurisdiction capable of supporting long-term,
industrial-scale and fully traceable production.

Issia Project and Pitting Programme

The current Resource target zones fall within the112 km(2) Badinikro permit.

We have completed an extensive pitting and sampling programme designed to
systematically evaluate shallow eluvial coltan mineralisation and generate
sufficient bulk material to support metallurgical testing and resource
definition.

In total, the programme covered approximately 3.8 km(2) comprising:

·    369 excavated pits;

·    400 tonnes of collected eluvial material; and a

·    cumulative pitting depth of 1,609 metres.

This material was stockpiled in advance of the pilot plant commissioning to
allow immediate processing.

Pilot Wash Plant and Assaying Workflow

The pilot wash plant, comprising a scrubber, jig and shaking table, is now
processing the collected material to recover the heavy mineral concentrates.

Concentrates are initially assessed using the Company's on-site X-ray
fluorescence analyser (XRF) to generate rapid indicative readings for
tantalum, niobium and associated heavy minerals. Samples are then submitted
for independent laboratory analysis to confirm grades, maintain external
verification and data integrity.

This workflow allows the Company to:

·      generate assay data for the maiden MRE;

·      build a growing dataset to support future resource updates; and

·      produce representative coltan concentrate suitable for bulk
sampling evaluation by potential offtakers keen to assess material from new
ethical supply sources.

The Company will announce details of assay results in batches as they become
available over the coming weeks.

Resource Definition and Early Commercial Validation

In addition to supporting resource estimation, the processing of bulk material
through the pilot plant will provide early insight into concentrate quality,
recoveries and potential commercial parameters.

Coltan concentrates are typically sold at approximately 30% Ta₂O₅
(tantalum pentoxide) equivalent, and tantalum prices are currently reported to
be in excess of US$200,000 per tonne, reflecting tightening supply and growing
strategic demand.

The ability to assess recoveries and produce market-ready concentrate during
the MRE process is expected to provide early technical and commercial
validation while the Company continues to evaluate scale across the broader
Issia district.

Other Projects

With the pilot wash plant commissioned, part of the technical team has been
remobilised to advance the Company's wider projects pipeline.

At Switch's 100% owned Bouaké licence (PR 934), which includes the 370 km(2)
Botro Licence, initial scouting activity has commenced to refine coltan
targets for follow-up work.

At Tiassalé, and following recent signs of recovery in lithium markets, the
Company is looking to resume preparation and Laser-Induced Breakdown
Spectroscopy (LIBS) assaying of some 4,000 plus soil samples which were
collected earlier in the year. Further updates will be provided as this work
progresses.

Strategic Partnerships

As announced on 10 November 2025, Switch has entered into a strategic
collaboration with Xcelsior Capital Advisors, partnered with Wogen Resources,
a global critical-metals trader with more than £400 million in annual
turnover. This relationship is designed to support Switch through commercial
insight, market intelligence, ESG positioning and the development of future
offtake and financing pathways.

 

For further information, please contact:

 

 Switch Metals plc                                                              Via IFC Advisory

 Karl Akueson, CEO

 Andy Yeo, CFO

 Allenby Capital Limited (Nominated Adviser & Joint Broker)                     +44 (0) 203 328 5656

 Corporate Finance: James Reeve / Nick Harriss

 Sales: Kelly Gardiner / Lauren Wright/ Matt Butlin

 OAK Securities (Lead Broker)                                                   +44 (0) 203 973 3678

 Jerry Keen, Head of Corporate Broking

 jerry.keen@oak-securities.com (mailto:jerry.keen@oak-securities.com)

 Henry Clarke, Head of Sales

 henry.clarke@oak-securities.com (mailto:henry.clarke@oak-securities.com)

 IFC Advisory Limited (Financial PR and IR)                                     +44 (0) 203 934 6632

 Tim Metcalfe / Florence Staton

 switchmetals@investor-focus.co.uk (mailto:switchmetals@investor-focus.co.uk)

About Switch Metals

Switch Metals plc, admitted to trading on AIM in April 2025, is a mining
company focused on critical technology and battery minerals in Côte d'Ivoire,
one of the most attractive mining jurisdictions in Africa. The Company is the
largest land holder covering tantalum, lithium and other critical metals
prospects in the country (and potentially in West Africa) today.

Its core assets include Issia (Ta + Nb), Bouaké (Ta + Nb + REE) and Tiassalé
(Li) projects. Issia is the current focus for the Company as it exhibits
potential for early cash flow through ethical tantalum production from shallow
coltan placer deposits with significant scale-up potential (from both placers
and hard rock pegmatites).

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