Critical Materials & Supply Chain▲2
Metals One pivots to gold and uranium after £15 million fundraising
Metals One managing director Daniel Maling announced a strategic pivot to gold and uranium in 2025, following a £15 million fundraising and a move away from Scandinavian nickel. The board made a conscious decision to reposition into gold and uranium as nickel market conditions weakened, taking impairment charges against the Black Schist nickel project while retaining the assets for long-term optionality. The balance sheet has shifted significantly into what the company considers more tangible gold and uranium projects. On uranium, DISA Technologies is expected to assess uranium values in US waste dumps over the next six to twelve months under a revenue-sharing arrangement. Key milestones include the Lions Bay Capital transaction involving South African gold and power assets, exploration through Fidelity Minerals in Peru, and potential drilling on Metals One's operated uranium and gold projects in the US.