Aterian (LSE:ATN), the African-focused critical minerals exploration and trading company, generated unaudited gross profit of approximately $295,000 from its Rwanda-based mineral trading operations in the second quarter ended 30 June.
The result is notable for the conditions in which it was achieved: both tin and tantalum prices fell materially during the period, yet Eastinco's sourcing network held margins steady, with the company reporting that prices and margins have since stabilised.
It is the third consecutive quarter of gross profit from the trading unit, which trades responsibly sourced and fully traceable minerals through its Kigali operation.
Executive Chairman Charles Bray said the performance "highlights both the resilience of our business model and the quality of the sourcing platform we have established," adding that additional supply agreements and new facilities are expected to begin contributing to volume growth in the third quarter.
Operationally, the quarter saw continued expansion of Eastinco's supplier network across Rwanda, further integration of an enlarged Kigali warehouse, and enhanced local capabilities under a recently appointed Head of Trading.
Aterian sees the trading unit as an increasingly important internal capital source for the wider group's exploration portfolio.
