• Aterian signs a binding agreement with France’s Lithosquare to deploy AI-driven exploration in Morocco and Botswana under a €1.4 million program.

• The deal gives Lithosquare an immediate 20% stake and a path to acquire up to 49.9% plus an NSR royalty of up to 2%.

• KoBold Metals and Botswana Diamonds already report significant AI-based exploration successes in Zambia and Botswana.

Aterian announced on December 9 that it signed a binding memorandum of understanding with French start-up Lithosquare to launch a joint exploration program in Morocco and Botswana. The partnership will allow the UK-based junior miner to use Lithosquare’s data-science and artificial-intelligence tools to identify promising copper targets.

Aterian joins a growing group of mining companies in Africa that rely on AI to locate mineral deposits.

The companies agreed on a €1.4 million ($1.6 million) exploration program fully funded by Lithosquare and structured in two phases. The partners aim to accelerate target identification and improve drilling outcomes through algorithmic modelling and geophysical analysis.

The initial €500,000 tranche will finance target generation using algorithms, geophysics, mapping and early drilling to confirm potential within priority zones. Positive results would trigger an additional €900,000 budget to support more extensive drilling on the most advanced projects.

The agreement covers eight Aterian licences spanning 2,898 km² across the Kalahari Copperbelt in Botswana and the Anti-Atlas region in Morocco. Aterian holds dozens of licences in both countries but did not specify which projects fall under the partnership.

AI Momentum in Mining
 Several mining companies on the continent have already reported AI-driven breakthroughs. KoBold Metals, the US start-up specialising in using AI to identify critical mineral deposits, announced in 2024 the discovery of a copper deposit in Zambia. The company said the find could be the country’s largest copper discovery in a century.

Before Aterian’s move, UK-based Botswana Diamonds submitted in 2024 an extensive, field-collected database to an AI-powered analysis system. The system identified drilling targets for which the company later requested exploration permits.

Aterian executive chairman Charles Bray said the initiative represents a major step forward for the company. “The exploration program gives us an immediate way to unlock large-scale value quickly across several copper belts. It is a bold and highly strategic initiative that gives real momentum to our exploration program, with spending focused specifically on the most promising targets in the portfolio,” he said.

The agreement allows Lithosquare to acquire up to 49.9% of interests in the designated projects and a net smelter return (NSR) royalty of up to 2% from any future mine. Lithosquare enters the joint venture with an immediate 20% stake and a 0.5% NSR royalty.
 Aterian said the structure accelerates the development of its portfolio without diluting shareholder equity.

However, Lithosquare remains a young company with no proven experience in the mining industry, particularly in Africa. Aterian has not indicated whether it would seek additional partners for large-scale development or mine construction if the joint venture delivers significant discoveries.

This article was initially published in French by Emiliano Tossou

Adapted in English by Ange Jason Quenum