Casablanca – Critical Mineral Resources PLC (CMR), a leading UK-based exploration and development company focused on critical mineral resources, has announced the signing of its first offtake contract in Morocco. This agreement marks a significant step in the company’s expansion strategy within the region, as it secures a steady supply of high-grade antimony ore from a local small-scale operator.
Under the terms of the six-month renewable contract, CMR will purchase all the crude ore extracted from this source, a semi-massive stibnite product (antimony sulfide, Sb₂S₃). The deal comes at a time when the global antimony market is experiencing sharp price increases, driven by a supply shortage largely caused by export restrictions from China, which accounts for 48% of the world’s stibnite ores and concentrates.
The recent surge in antimony prices has created a favorable market condition for CMR, which sees this supply deal as a strategic move to generate cash flow while simultaneously pursuing long-term development projects in Morocco. The company’s new commercial branch in the country is expected to further enhance its operational presence and strengthen its position as both a miner and a trader of critical minerals.
Charlie Long, CEO of Critical Mineral Resources, commented on the deal, stating, “Not only will trading in commodities generate much-needed liquidity for the business, but it will also significantly contribute to our growing deal flow. We anticipate finalizing more agreements in the coming weeks, reinforcing our integrated approach to mineral exploration and trading.”
In addition to securing its position in the antimony market, CMR continues to explore new mining opportunities in Morocco, including its ongoing work at the Igli mine, located south of Kelâat Mgouna in the Anti-Atlas region.
This move aligns with CMR’s long-term goal of diversifying its portfolio and expanding its footprint in the critical minerals sector, positioning the company for future growth in a rapidly evolving global market.
