KEY POINTS
- Askari exits Australian gold to fund Africa.
- Nejo gold project in Ethiopia deal advances.
- Focus sharpens on Uis lithium, Matemanga uranium.
Askari Metals Ltd. is an exploration and development company focused on battery metals especially lithium, rare earths, gold, copper, and uranium with projects spanning Africa and Australia.
Its flagship project is the Uis Lithium Project in Namibia, which covers more than 300 km² near an operating mine. The licence area holds numerous pegmatites with visible spodumene and high-grade lithium assays, alongside tantalum, tin, and rubidium.
Backed by technical staff with deep experience in exploration, Askari has raised capital to support these projects, advanced field programs (including drilling and mapping), and pared down non-core assets to sharpen its focus on Africa’s rapidly growing demand for critical minerals.
Askari Metals Ltd. is exiting its Australian operations to deepen its push into Africa, where it sees long-term growth in gold and critical minerals.
The company agreed to sell its wholly owned subsidiary, First Western Gold, to Forrestania Resources, and will use the proceeds to complete the acquisition of the Nejo gold project in Ethiopia and fund exploration work there.
Askari buys Nejo gold project in Ethiopia
Askari already holds the Uis lithium exploration project in Namibia and the Matemanga uranium project in Tanzania. With gold prices rising and Africa contributing about 20 percent of global production, the continent is becoming central to the company’s plans.
Executive director Gino D’Anna further said the deal cements Askari’s shift to “focus exclusively on our African asset base.” That includes Nejo in Ethiopia and the Uis rare metals project in Namibia.
Africa’s role in battery metals future
Africa is home to an estimated 30 percent of the world’s critical mineral reserves, including copper, cobalt and lithium. Those reserves are increasingly vital as global demand for electric vehicles and renewable energy accelerates.
By cutting loose its Australian assets, Askari can direct both financial and human capital toward exploration in Africa. “It really does make it a clear focus now for the company to push forward,” D’Anna said.
Streamlined portfolio to fund expansion
Askari is betting that by concentrating resources on the continent, it can accelerate development of projects across multiple commodities. The Nejo project is expected to strengthen the company’s foothold in the gold sector, while its Namibian and Tanzanian assets position it for growth in battery metals and uranium.
