|
Aterian PLC on Wednesday said it has signed a trade finance agreement with a ‘global commodity trading and financial house’ to fund mineral trading. The Africa-focused mining company with projects in Botswana, Morocco and Rwanda said the facility is worth up to $4.5 million. Aterian said it marks a ‘transformational step forward’ for its trading division and represents an execution of its aim ‘to build a scalable, revenue-generating platform supporting its exploration and development activities across Africa’. The financier’s operational trading facility will provide funding for the traded minerals. Aterian said the facility will be used immediately to fund the additional trading of tantalum, niobium and cassiterite. The agreement has a five-year facility period which starts immediately. Chair Charles Bray said: ‘This facility... marks a pivotal step in transitioning Aterian from a solely exploration-focused company to an operational trading entity capable of generating consistent revenues. ‘Significantly, this income-generating structure reduces our dependency on equity financing, helping to preserve shareholder value while accelerating our commercial strategy. This agreement enables the immediate funding of tantalum, niobium, and cassiterite consignments and positions Aterian to benefit from commodity sales while leveraging minimal upfront capital.’ Shares in Aterian were down 4.7% to 41.00 pence in London on Wednesday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
