Critical Mineral Resources PLC is making a bold move into North Africa with a major new venture focused on copper and silver in central Morocco. The UK-based company has entered into a strategic joint venture agreement that allows it to acquire up to a 60% stake in the project, provided it hits certain predefined milestones. To get things moving, the firm has already secured £1.325 million in funding—£825,000 through equity and another £500,000 via a convertible loan.
The site, which sits in a shallow sedimentary basin, is backed by promising exploration data and a feasibility study already submitted to Moroccan authorities. As part of the next phase, a diamond drill rig is being shipped from Canada and is expected to arrive within days. Drilling operations are slated to kick off in the third quarter of 2025.
Plans for the site include a copper flotation facility capable of processing 1,000 tonnes of ore per day. Exploration efforts are currently underway to define the resource more precisely, with early estimates pointing to a potential deposit of between 150,000 and 200,000 tonnes of copper, grading at an average of 1.2% copper equivalent.
One of the key advantages of this project is its location. The site is easily accessible by road, has nearby electrical and water infrastructure, and features shallow mineralization—reaching a maximum depth of just 50 meters. Local operations are being led by Noureddine Sabraoui, a seasoned industry expert with in-depth knowledge of Morocco’s mining landscape. The deposit includes a range of copper-rich minerals such as malachite, chalcocite, azurite, and chalcopyrite, all embedded in a limestone matrix similar to other successful operations in the region.
In a strategic boost, Critical Mineral Resources has also announced that Russell Tucker is joining its board of directors. Tucker sees the Moroccan venture as a vital part of the company’s broader strategy to secure critical minerals for the global energy transition. Morocco’s political stability and investor-friendly regulatory environment further enhance the project’s appeal, reinforcing the country’s growing reputation as a mining hub on the African continent.
