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Saudi-backed Royal Road Minerals receives all permits for copper-gold project: Saudi-backed international mining company Royal Roads Minerals has received all requisite drilling permits for its Alouana copper-gold polymetallic project in Morocco, according to a press release.
We knew this was coming: The company signed an option agreement last year to acquire 100% of Morocco’s Izughar Resources which previously held the titles for the mining area. The project comprises six exploration licenses covering a total area of 84 sqm in Morocco’s Eastern Region.
Royal Roads has more planned for Morocco: The company signed a letter of intent with Morocco’s Carbomine to acquire 100% of the latter’s Lalla Aziza mining license last month. The agreement grants a 120-day exclusive exploration period of the underground copper mine, with an initial payment of USD 50k and USD 4 mn to be paid in two tranches if the acquisition goes through. The mine — located southwest of Marrakech — extracts sulfide ore, primarily chalcopyrite, from moderate-dipping, shear-hosted sheeted sulfides, vein-stockworks, and breccia formations. It also operates at a cut-off grade of 2.5% copper.
The company also operates in Saudi: Royal Road was awarded the Jabal Sahabiyah tenderlast January for three exploration licenses covering approximately 284 sqm in the Asir Province. Later in June, it secured exploration rights for copper and gold in the Al Miyah tender area, also located in Asir Province. The tender included three exploration licenses covering an area of 234 sqm.
About Royal Roads: The Jersey-based company operates in Colombia, Argentina, Morocco, and Saudi Arabia. Its operations in the region are controlled by its subsidiary Royal Roads Arabia, a 50-50 joint venture with the Saudi investment company MIDU Limited that focuses on copper and gold while boasting a “minimum impact on the environment, and no net loss of biodiversity,” according to its website.
