https://www.miningweekly.com
Botswana|Business|Copper|Energy|Exploration|generation|Infrastructure|Mining|Power|Service|Water|Infrastructure
Botswana|Business|Copper|Energy|Exploration|generation|Infrastructure|Mining|Power|Service|Water|Infrastructure
botswana|business|copper|energy|exploration|generation|infrastructure|mining|power|service|water|infrastructure

Aterian acquires 90% controlling interest in Atlantis

8th January 2024

By: Darren Parker

Creamer Media Contributing Editor Online

     

Font size: - +

London-listed critical metals exploration and development company Aterian has signed a share purchase agreement (SPA) to acquire a controlling 90% interest in private Bostwana-registered business Atlantis Metals, which holds several mineral prospecting licences in the country.  

Atlantis currently holds four licences covering a combined area of 3 516 km2, with one 999 km2 licence targeting copper in the Kalahari Copperbelt and three licences targeting lithium brine exploration within the Makgadikgadi region of northern Botswana. 

The copper-focused licence is located 50 km east of Khoemacau Copper Mining's Zone 5 mne, which contains 92.9-million tonnes grading 2% copper and 21 g/t silver. 

The other three lithium brine-focused licences cover a combined 2 517 km2 over an area east of Sua Pan in the Makgadikgadi Pans. 

The vendor, who will retain a 10% shareholding in Atlantis, is a private Botswana citizen and a professional geologist who will manage Atlantis and the company’s exploration activities in Botswana for at least 12 months. 

Aterian has noted that the licences are located close to good infrastructure, including national highways and power. 

"The signing of this SPA, to acquire substantial mineral licence assets in Botswana, further expands our presence on the continent. It perfectly fits our strategy of focusing on the critical metals, copper and lithium, in stable jurisdictions.  

These new lithium brine licences in Botswana underscore our advancing lithium exploration efforts in Rwanda, where we recently announced an earn-in joint venture with [mining major] Rio Tinto. We have been busy and look forward to updating the market on our continued exploration efforts,” Aterian chairperson Charles Bray said on January 8. 

Aterian also owns copper assets in Morocco that he said were showing increasingly promising results.   

Under the SPA, Aterian will assume responsibility for funding exploration activities. 

Exploration expenditure commitments, the acquisition consideration and professional service fees will total a minimum of $80 000 and be payable over 12 months. 

Given the early-stage nature of the new licences, initial workstreams will concentrate on data collection and acquisition from the Ministry of Mines and Energy to allow for a desktop review and target generation exercise, Aterian explained. 

This will be supported by preliminary reconnaissance of the licences with first phase soil sampling if deemed appropriate and water sample collection from pre-existing wells within the area of Sua Pan. 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

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
PLUS
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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.155s - 94pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: