Critical Mineral Resources plc has added mined copper to its Morocco joint venture trading business.
INTEGRATION
The acquisition and sale of high-quality copper ore, grading between 5% and 10% copper, from a small scale mine in the Anti-Atlas follows the company’s trade earlier this month of mined silver.
The transaction is in line with the company’s strategy to source raw material from smaller producers and / or upgrade lower-grade products using its partner’s concentrating facility.
“Moving into copper illustrates how nimble and well connected our Moroccan partnership is, and the potential for the business to grow into something important,” said chief executive Charlie Long.
“CMR intends to fully exploit our early-mover position as an integrated mine developer and commodities trader with a unique business-focused approach to deliver value for our shareholders.”
The company noted that most of Morocco’s multiple base metals mines are on a small scale.