Atlas Metals Scraps Proposed Universal Pozzolanic Silica Alumina Acquisition

06:38 AM EST, 11/05/2026 (MT Newswires) -- Atlas Metals Group (AMG.L) terminated the conditional share purchase agreement in September 2025 to acquire Universal Pozzolanic Silica Alumina, citing due diligence difficulties and actions by UPSA representatives. The London-listed natural resources and energy investment company said Thursday that those actions have materially changed the transaction's merits and viability. It is seeking to recover material amounts owed by UPSA. Atlas Metals is now in advanced talks over two potential acquisitions involving lithium and graphite assets in Africa and South America. It expects to enter exclusivity arrangements with the vendors to conduct detailed due diligence, though there is no certainty that either transaction will go through.