The Musasa Project

A Battery Metal Destination in Africa

The Musasa Project

The Musasa Project

  • The Musasa licence area is known for its significant mineral potential, showing prospective mineral opportunities for lithium, tantalum, niobium, tungsten and tin.
  • The RMB invitation to negotiate final terms for the exploration agreement marks a key step forward in Eastinco’s strategic expansion within the region and, upon completion, will increase the total Rwandan project exploration area by no less than 350 hectares to 3,100 hectares.
  • The new licence area significantly expands from the original area of 50 hectares under the original agreement with Kuaka.
  • This development aligns with our commitment to exploring and developing mineral resources that can contribute to the energy transition and sustainable economic growth and development.
  • Eastinco has also agreed terms with its existing Musasa project partner, Kuaka Cooperative, to acquire the 15% of equity presently held by Kuaka in exchange for the provision of mineral processing assistance and equipment.
  • The Musasa licence will be 100% held by Aterian plc’s wholly-owned subsidiary company, Musasa Mining Limited.
Rwanda - Aterian plc
Rwanda - Aterian plc

Musasa : Reported Highlights

The Musasa Project

  • Eastinco has been formally invited by the Rwanda Mines, Petroleum and Gas Board (“RMB”) to negotiate terms for a significantly larger mineral exploration licence for the Musasa project area in Rwanda.
  • Eastinco will exercise its option to acquire the 15% minority partner interest from Kuaka Cooperative (“Kuaka”), its partner in the Musasa project.
  • Eastinco announces that it has sent a joint venture termination notice to its partner, Dynasty Construction (“Dynasty”) and Eastinco.
  • The government of Rwanda recently announced that it has partnered with Rio Tinto Minerals Development Limited (“Rio Tinto”) to collaborate in mineral exploration activities and potential mineral development and mining operations for lithium, tin, tantalum, tungsten and associated metal deposits in Rwanda.