Business
Final Results for the Year Ended 31 December 2023
Final Results for the Year Ended 31 December 2023.
About this update from Aterian Plc
[{"type":"text","content":"\n\nAterian Plc\n(\"Aterian\" or the \"Company\")\nFinal Results for the Year Ended 31 December 2023\n \nAterian Plc (LSE: ATN) is pleased to announce its audited results for the period ended 31 December 2023.\n \nChairman's Statement:\nDear Shareholder,\n2023 was another milestone year for the Company, setting out a clear roadmap for how we intend to grow the Company.\nAfter successfully acquiring our Moroccan portfolio in late 2022, we entered an earn-in joint venture with Rio Tinto Mining and Exploration (\"Rio Tinto\") for our HCK lithium-tantalum project in Rwanda in August 2023. Under this Agreement, Rio Tinto has the right to earn in on our two other projects in Rwanda when the pending licence applications are granted. We expanded our portfolio in Morocco with the award of two additional copper exploration projects, with extensions granted to three existing projects. The Company reported regular updates on the positive results from our key projects in Morocco during the year. In January 2023, the International Tin Supply Chain Initiative (\"ITSCI\"), a programme for responsible mineral supply chains, approved our application in Rwanda and granted Membership Status to the Company.\nOur strategy focuses on responsibly exploring and mining critical minerals and metals across Africa, a region vital for a successful energy transition. The renewable energy, automotive, and electronic manufacturing sectors are currently driving the need to develop secure supply chains of critical and strategic metals. We firmly believe the long-term market fundamentals for copper are excellent and linked specifically to the anticipated growing demand for renewable energy and related transportation electrification globally.\nWe continue to work towards becoming an ethical, integrated exploration, development, and trading company across multiple mineral assets and jurisdictions. \nBusiness Review and Future Developments\nRwanda Exploration\nAterian signed a definitive Earn-In Investment and Joint Venture Agreement with Rio Tinto and Kinunga Mining Ltd (\"Kinunga\"), our 70% held Rwanda subsidiary. The Agreement is for the exploration and development of lithium and by-products at its HCK Joint Vent...