Targeting discovery to first production in only three years - compared with an industry average of 15.7 years according to the S&P Global Market Intelligence report (2023).
A new copper-silver discovery
Discovery: Trenching and diamond drilling by CMR has discovered a near surface copper deposit.
Resource growth: The maiden resource, due in 2026, will be from 5% of the project area. This is expected to grow year on year as drilling continues.
Near term production
Mine build: The strategy is to fast-track production, with construction targeted for late 2027.
Technical committee: This Initial Mine development will be based on detailed engineering studies managed by CMR’s technical committee.
Top Jurisdiction for mining
Fraser Ranking: Morocco ranks as one of the best mining jurisdictions globally according to the Fraser Institute. For the Investment Attractiveness Index, Morocco is ranked #15* globally and #2 in Africa.
* of the top 15 jurisdictions, nine are states in Australia, US and Canada
copper supply deficit by 2029
Deficit: As the world’s largest copper mines mature, there are insufficient new mines to replace lost supply.
Growth: Meanwhile traditional copper global demand is being boosted by electrification, renewables and AI factories.
What is Critical Mineral Resources?
Critical Mineral Resources plc (CMR) is a London-listed natural resources company with subsidiaries, projects and operations in Morocco.
As a listed company, CMR discloses price sensitive information via the Regulatory Information Service (RIS) using an FCA approved, Primary Information Provider.
CMR uses both PR Newswire and the London Stock Exchange RNS service for its regulatory disclosures or news.
Market practitioners and investors may refer to CMR by its stock exchange code CMRS.
Agadir-Melloul is located in the Western Anti-Atlas, on a growing copper belt that has multiple operating copper mines in the same geological setting.
Stage of development
The maiden Mineral Resource Estimate (to be published Q4 2026) will be sufficient for the Initial Mine development, which is planned for construction in late 2027. The feasibility study work has started and is being managed by CMR’s experienced technical committee.
Excellent infrastructure
Agadir-Melloul is located approximately 3 hours drive from the commercial port in Agadir and benefits from a bitumen road and grid power running through the project area.
The Agadir Melloul development strategy is to build a modest sized Initial Mine to reduce its environmental and social impact.
As the resource base grows over time, the plan is to build a second and potentially a third processing facility in different locations across the large and growing project area.
By spreading mining and processing across several smaller discreet operations, as opposed to one large operation, we will minimise the environmental impact and ensure a wider positive economic impact.
Local Content
CMR’s strategy is to build meaningful Moroccan participation and local content into the Agadir Melloul mine development and all future CMR mine developments.
Moroccan expertise will be complemented by targeted international expertise where required and in collaboration. This will ensure the optimal design, sustainable mining operations and will result in technology transfer in both directions.
Exploring Renewable Energy Options
CMR is exploring renewable energy options where this can reduce operating costs and strengthen the project’s environmental proposition, as well and complementary renewable energy related industrial opportunities.
“CMR’s development philosophy is to minimise the social and environmental impact of our developments. We plan modest-sized initial operations, and to then increase capacity incrementally over time.”
