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Copper|electrification|Energy|Exploration|generation|Iron Ore|Mining|PROJECT|Projects|Resources|Roads
Copper|electrification|Energy|Exploration|generation|Iron Ore|Mining|PROJECT|Projects|Resources|Roads
copper|electrification|energy|exploration|generation|iron-ore|mining|project|projects|resources|roads

Critical Mineral Resources acquires new permits in Morocco

6th December 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

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Aim-listed Critical Mineral Resources (CMR) has been granted four new exploration permits in the Rabat and Beni-Mellal regions in Morocco. 

The three new permits, covering an area of about 80 km2, comprise the Meseta project and are primarily prospective for copper.

Since acquiring 80% of Atlantic Research Minerals (ARM) in June, the company has been adding Moroccan metals and minerals projects to its portfolio.

In early September, CMR announced the granting of the Ighrem project, prospective for copper, oligiste iron-ore and manganese.

The Meseta project is easily accessible by sealed roads, CMR points out.

The main Meseta permit is located on the same structural trend as the Rhouirat N’Has tungsten/copper project managed by Morocco’s State natural resources developer ONHYM and Aterian’s Zaer project.

The main Meseta permit was visited recently and showed clear evidence of historical mining activity at several locations across the property.

CMR outlines that its focus is on developing Moroccan commodity projects with the clear potential to support the transition to clean energy and quickly advance to production and cash generation.

As part of this focus, the company continues to evaluate advances in battery chemistries and broader electrification technologies required for global decarbonisation.

“While debate continues regarding the future form and ratio of clean energy commodities in batteries, the importance of copper and its position as an enabler of electrification despite long-term supply constraints remains accepted thinking.

“Meseta will provide CMR with continued and additional exposure to copper and its long-term value opportunity,” the company says.

In September, CMR and its subsidiary ARM signed a binding term sheet with the shareholders of SA Strategy, the owner of the Zagora cobalt project, to earn in on the delivery of certain milestones.

The two companies have mutually agreed to terminate this agreement, though both organisations will continue to collaborate and seek opportunities to partner in the future.

“We are delighted to add the Meseta project to our portfolio of exploration permits. It fits CMR’s stated strategy of targeting Moroccan assets with the potential to produce clean energy commodities. While we continue to develop our opportunities for cash generation from earn-in with near-term production assets such as Anzar, Meseta is an important addition to our incubator portfolio of licences.

“Early indications give us confidence it has copper development potential. We are pleased to provide our investors with additional exposure to copper projects and the significant value we believe they and copper hold for the long term,” says CMR CEO Charlie Long.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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