Critical Mineral Resources expands in Morocco with copper-silver joint venture

Metals and minerals exploration company Critical Mineral Resources (CMR) has announced a joint venture to acquire a 60% stake in a copper-silver project in central Morocco, supported by a £1.33 million investment to accelerate development, the company said on Friday.

The London-listed firm will earn its stake by meeting specific milestones at a shallow, sedimentary-hosted copper deposit, which it believes could become a «significant new discovery».

The investment includes £825,000 in equity and a £500,000 convertible loan with 5% interest. The project targets between 150,000 and 200,000 tonnes of contained copper at a grade of 1.2% copper equivalent. Drilling is scheduled to begin in Q3 2025, with equipment arriving from Canada next week.

Notably, in 2024, CMR acquired 26 exploration permits in central Morocco for copper, antimony, tungsten, lead-zinc, and gold.