African Battery Metals shifts focus to nickel/cobalt, relinquishes Sierra Leone projects

30th August 2018

By: Marleny Arnoldi

Deputy Editor Online


Font size: - +

Aim-listed African Battery Metals (ABM) has decided to relinquish its interests in gold and iron-ore projects in Sierra Leone to focus on its newly acquired nickel and cobalt projects in Cameroon and Côte d’Ivoire.

The company believes there are attractive long-term market fundamentals for battery metals. 

The strategy, implemented in January, of rapidly building the company organically and through acquisitions, has been endorsed by the new shareholders, led by highly successful international resource entrepreneurs, including Stephen Dattels and Ian Stalker

“This and the fact that the exploration licence covering the 153 km2 Ferensola project, in northern Sierra Leone, is due for renewal, has prompted the decision to end all activity in Sierra Leone,” noted ABM CEO Roger Murphy.

Accordingly, it is expected that a local liquidator will be appointed to manage the process and ensure a timely and satisfactory exit. The impact of the exit will be reported on in the next financial statement relevant to the period.

ABM now holds four prospecting licences in Cameroon close to one of the largest undeveloped cobalt resources in the world and two prospecting licence applications, as well as the irrevocable right to earn-in to up to 70% of the 380 km2 Lizetta II cobalt/chrome/nickel project, in Côte d’Ivoire. 

These two projects complement the licences in the Democratic Republic of Congo, which are prospective for cobalt. 

ABM is also actively evaluating additional projects, that the board believes have potential to significantly advance the company’s stated strategy.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


Latest News

Resources Watch image
Resources Watch
21st September 2023
MC Mining CEO Godfrey Gomwe
MC Mining revenue nearly doubles
22nd September 2023 By: Darren Parker


Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones, wear-resistant linings,...


Traka is the global leader in intelligent management solutions for keys and equipment. Our solutions help all types of organisations better control...


Latest Multimedia

sponsored by

Photo of Martin Creamer
ARM, GoldOre, Gautrain make headlines
22nd September 2023
Magazine cover image
Magazine round up | 22 September 2023
22nd September 2023
Resources Watch image
Resources Watch
21st September 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.056 0.088s - 92pq - 2rq
Subscribe Now