Rabat – The London-listed mining company Aterian Plc has announced locking 10 new exploration licenses covering an area of 139.6 square kilometers in central Morocco.
According to a statement issued yesterday, Aterian now holds 17 Projects covering a total of 897 square kilometers in Morocco within established mining districts.
The company’s main target metals in the portfolio include copper, silver, and other base metals.
Commenting on the news, Chairman of Aterian, Charles Bray, said: “I am very pleased to report on these new projects and the additional licenses secured as part of Morocco’s recent license tender process.”
“The increase in total land area and the expansion of the copper project portfolio clearly demonstrates our strong belief that Morocco represents an exciting mining destination, particularly for critical minerals vital for a successful energy transition,” he explained.
Noting the company’s overall operations in Morocco, Bray said that his company remains confident that their existing asset portfolio “has the potential to deliver tremendous value to the Company, its shareholders and other stakeholders, as demonstrated in large part by our recent announcement of our joint venture with Rio Tinto Mining and Exploration Ltd for lithium exploration in Rwanda.”
The executive further explained that a fundraiser that was announced earlier yesterday would provide “sufficient funding to meet all existing and envisaged cash commitments.”
“Aterian has a clear plan to unlock value from our extensive portfolio of critical mineral assets. I look forward to updating shareholders as we deliver on our value creation plans with the results from our on-going exploration programmes,” he concluded.
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