Chilwa Minerals Ltd. has advanced its global expansion plans by filing a registration statement with the US Securities and Exchange Commission (SEC) for a public offering in the US.
The company intends to list American Depositary Shares (ADSs) on the Nasdaq Capital Market under the ticker CHW, with each ADS representing 10 fully paid ordinary shares. Chilwa’s ordinary shares will continue to actively trade on the Australian Securities Exchange (ASX).
The move comes just three years after Chilwa’s initial listing on the ASX, driven by a push to tap into the world’s deepest capital markets.
The company believes a US presence will align its project with western supply chains and attract deep-pocketed institutional investors backing clean energy, electric vehicles, and defence manufacturing.
The US has aggressively boosted funding and policy support for critical minerals to reduce its heavy reliance on China, which currently processes over 90 per cent of the world’s rare earths.
Chilwa’s wholly owned flagship project in southern Malawi contains high-grade rare earths and heavy mineral sands.
Chilwa Managing Director Cadell Buss said: “The United States is moving decisively to secure the rare earths and critical minerals its defence, energy and manufacturing sectors depend on, and the Chilwa Critical Minerals Project sits squarely within that priority.
“A Nasdaq listing would give us direct access to the deepest and most liquid capital market in the world, and to investors who understand the strategic value of critical minerals – complementing our ASX listing and providing the financial flexibility to keep advancing our project.”
A NASDAQ listing will also provide additional financial flexibility to support the continued development of Chilwa’s Chilwa critical minerals project, located in southern Malawi, as well as for general working capital purposes.
The total number of ADSs to be offered and their pricing have not yet been determined, and the capital raise will sit within Chilwa’s existing placement capacity under ASX rules.
The offering remains subject to market conditions, SEC review, and final board approval.