Aminex surges 51% as Tanzania gas talks advance Ntorya project

Aminex PLC shares jumped as much as 51.1% to 1.70p in London trading after the explorer confirmed high-level regulatory talks that could unlock first production at its Ntorya gas field in Tanzania this year.

The AIM-listed company said discussions convened by Tanzania's Ministry of Energy involve the Tanzania Petroleum Development Corporation, the Petroleum Upstream Regulatory Authority and project operator ARA Petroleum Tanzania Ltd., bringing the joint venture a step closer to commercial development of the Ruvuma basin asset. Aminex welcomed the continued engagement of national authorities and thanked Dr James Mataragio, Permanent Secretary of the Ministry of Energy, for convening the multi-party meetings.

Shares eased to about 1.55p by mid-morning, still 37% above Wednesday's close of 1.125p, as investors read direct government involvement as progress toward the regulatory approvals required before the partners can move to full-scale extraction. The surge contrasted with a 0.50% decline in the FTSE 100 to 10,823.25, while the AIM UK 50 gained 0.10% to 4,305.20, showing the strength was concentrated in the junior market rather than a broad rally.

The talks follow local press reports highlighting Ntorya's strategic importance to Tanzania's domestic energy market, where the field is expected to feed gas into the national grid. ARA Petroleum has committed to first production this year, a milestone that would mark the first commercial output from the project and a potential turning point for Aminex, whose valuation has long hinged on monetizing the asset.

The development comes as Tanzania seeks to expand domestic gas supply to ease power shortages and support industrial growth, with the Ntorya field expected to serve as a key source for the country's internal market rather than for export. For Aminex, securing regulatory sign-off would clear the path toward development funding and production revenue, shifting the company from a development-stage explorer to a producing operator.

The move also stands out against a softer energy complex, with Brent crude declining 0.9% to about US$87.06 a barrel and gold edging up 0.3% to roughly US$4,606 an ounce, a sign the rally was company-specific rather than sector-driven. Aminex has traded thinly for years as the project awaited regulatory clarity, and the one-day surge reflects the speculative nature of a stock whose value rests almost entirely on the Ntorya outcome.

If negotiations conclude successfully, further upside could follow as the market prices in production cash flows and development funding; if talks stall, the shares risk giving back the gains. The company said further updates will follow as discussions reach a final conclusion.

This article is for informational purposes only and does not constitute investment advice.