Central Asia Metals unveiled a conditional investment of £3 million ($3.8m) in Aberdeen Minerals on Monday, securing a 28.7% equity stake in the company. The move comes as Central Asia Metals, known for its operations in Kazakhstan and North Macedonia, diversifies its portfolio by venturing into the UK’s raw battery materials exploration domain. Aberdeen Minerals, a privately-held exploration firm based in Scotland, boasts a significant land package and has already identified promising copper-nickel-cobalt deposits at its Arthrath project, initially explored by Rio Tinto in 1968. This investment aligns with the UK government’s critical minerals strategy, aimed at bolstering national resilience in critical mineral supply chains, particularly in light of the green energy transition. Central Asia Metals expressed optimism about the UK’s burgeoning mining sector, driven by environmental imperatives, deeming it an attractive destination for exploration investment. The financing structure includes a £3 million cornerstone investment at 8.5 pence per share, with provisions for additional investment through warrants, potentially raising CAML’s ownership to 37.8%. Aberdeen Minerals CEO Fraser Gardiner welcomed CAML’s investment, highlighting its validation of their projects and exploration plans, signaling a promising partnership for future success and local economic growth tied to the energy transition.
