Aterian secures funding to bolster Africa mineral operations

LONDON - Aterian Plc (LSE:ATN), a company focused on the exploration and development of critical minerals in Africa, has announced the successful acquisition of GBP 468,000 in equity capital through Convertible Bonds to support its growth initiatives across the continent. The company, which has recently secured a US$4.5 million Trade Finance Facility, is expanding its mineral trading operations in Rwanda, dealing in tin, tantalum, and niobium concentrates.

The Trade Finance Facility, which was established on April 23, 2025, is aimed at increasing Aterian’s sourcing and trading volumes, enhancing infrastructure, and improving operational efficiency. These steps are expected to significantly contribute to the company’s operational expenditure coverage in 2025, creating a self-sustaining platform for its asset development strategy.

Aterian’s Rwandan trading division is already generating early-stage revenue and is poised to continue leveraging local expertise and partnerships. The company’s exploration activities are also advancing, with field programs underway in Botswana and Morocco targeting copper and lithium, key components in the growing battery market.

Charles Bray, Executive Chairman of Aterian, expressed optimism about the company’s hybrid business model, which combines scalable exploration with active revenue generation. He highlighted the strategic importance of Botswana and Morocco in the global supply of battery metals and the company’s progress in copper and lithium projects in these regions.

The Convertible Bonds, maturing on April 28, 2028, carry an 8% annual coupon and a fixed conversion price of £0.50 per share, with provisions for adjustments and a minimum conversion price of 30 pence per share. Aterian retains the option to redeem the bonds at a premium or at par, and to oblige conversion based on a 60-day average market share price at maturity.

Investors interested in the bond issuance can contact Novum Securities Limited for participation. The funds raised will be directed towards fieldwork for copper and lithium assets, technical studies, and general corporate overheads, maintaining operational momentum with financial discipline.

Aterian’s strategy encompasses the development and monetization of critical mineral assets in Rwanda, Morocco, and Botswana, complemented by a trading business that balances near-term cash flow with long-term project value. The company’s joint venture with Rio Tinto (NYSE:RIO), exploring lithium, tantalum, and tin in Rwanda, exemplifies its capital-efficient and partnership-driven model.

Aterian also emphasizes community and environmental responsibility, adhering to international standards for responsible mineral supply chains and investing in local education and infrastructure. The company ensures full visibility across its sourcing and trading activities, aligning with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals and the Responsible Minerals Initiative.

This announcement is based on a press release statement and contains information previously classified as inside information under UK market regulations.

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