Aterian’s Eastinco Begins Tungsten Trading Trial in Rwanda
Aterian Launches Rwanda Tungsten Trading Trial as Eastinco Expands Critical Minerals Platform
Aterian’s wholly owned Rwandan subsidiary, Eastinco, has launched a trial programme to trade tungsten ore and concentrates as the company expands its critical-minerals trading activities in Rwanda.
Eastinco has historically focused on tantalum-bearing concentrates but is now using its established procurement network, local infrastructure and responsible-sourcing systems to enter the tungsten market.
The company will initially conduct smaller, lot-by-lot transactions with approved Rwandan suppliers.
The trial will allow Eastinco to assess supplier reliability, material grades, pricing mechanisms and buyer relationships while establishing traceability and risk-management systems for tungsten trading.
The programme is also intended to establish reliable sources of responsibly sourced tungsten and determine the working-capital requirements needed to support recurring transactions.
Subject to successful due diligence and initial trades, Eastinco plans to progressively increase trading volumes.
To support the initiative, Aterian plans to raise approximately £180,000 through a zero-coupon convertible loan note from existing shareholders.
The funds will be used primarily to strengthen operational systems and expand Eastinco’s facilities for the segregation, purchase and aggregation of tungsten-bearing material.
Rwanda’s established tungsten-producing sector provides Eastinco with a local supply base as it seeks to develop a broader multi-commodity trading platform.
Tungsten is an important industrial metal used in applications including cutting tools, mining equipment, electronics, aerospace and defence.
China accounted for about 82% of global mined tungsten supply in 2024, increasing the focus on supply diversification.
Aterian said the tungsten initiative forms part of its strategy to develop Eastinco into a diversified and cash-generating critical-minerals trading business, with the company also assessing opportunities involving commodities such as copper, tin and beryllium.
The trial marks Eastinco’s expansion beyond tantalum and provides a platform for the company to test and scale tungsten trading from Rwanda before moving towards larger commercial volumes.
