Critical Mineral Resources (CMR), a UK-based mining company, continues to expand its foothold in Morocco’s mining sector by selling high-grade copper ore, the company announced in a statement on Thursday.
The ore, sourced from a small-scale mine in the Anti-Atlas region, contained 5-10% copper. CMR collaborated with its Moroccan partner to manage the sourcing process, conduct quality control, and handle logistics, including storage and shipping.
Copper plays a critical role in renewable energy, electric vehicles, and electrification. Experts project global demand to rise from 26 million tons today to 36 million tons by 2040, despite ongoing supply constraints.
CMR’s CEO Charlie Long highlighted the importance of the company’s approach. “Moving into copper illustrates how nimble and well-connected our Moroccan partnership is, and the potential for the business to grow into something important,” Long said.
The CEO highlighted CMR’s intentions saying it will: “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,” he added.
By working with smaller producers and upgrading materials for international markets, CMR seeks to ensure a steady supply of high-quality copper.
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