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CMR begins trading Moroccan metals: UK-based Critical Mineral Resources (CMR) has commenced its metals and industrial minerals trading in Morocco, according to a disclosure to the London Stock Exchange (LSE). This new venture — in partnership with an unnamed local partner — is expected to provide near-term cash flow, supporting CMR’s plans of acquiring and developing advanced mine development opportunities in the region.
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About the partnership: The joint venture — which includes a 70% bottomline share for CMR and 30% for its partner — is beginning its trading activities by focusing on short-term trading options with low risks. The unnamed local partner is responsible for sourcing products from smaller producers and upgrading lower-grade products in its concentrating facility. The JV trading arm is now operational, with several trades expected in the coming weeks.
A new mining development purchase may be in the works: The company said in the disclosure that it is closing in on a “high-quality” mining development, adding that it will issue a solid update on the investment opportunity in 1Q 2025. No further details were revealed in the disclosure.
The company has been very active in Morocco: CMR owns a majority stake of 80% in the leading Moroccan exploration and geological services company Atlantic Research Minerals (ARM) – which has recently said it would invest in the scoping and feasibility studies for the cobalt-rich site of Zagora in Morocco, as part of an earn-in agreement with the project owner SA Strategy. CMR also signed an option agreement to acquire 90% of the Igli copper and gold project in Morocco earlier in July. It also began initial minerals exploration work at its Igli silver copper deposit in the North African country’s Anti-Atlas region in August.
