REG - Critical Mineral - Lead Concentrate Trade

Critical Mineral ResourcesAnnouncement

16/12/2024 07:00

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RNS Number : 1905Q  Critical Mineral Resources PLC  16 December 2024

Critical Mineral Resources PLC

('CMR' or the 'Company')

Lead Concentrate Trade

Critical Mineral Resources PLC, the company focused on mine development and
trading of critical minerals in Morocco is pleased to announce completion of a
maiden purchase and sale of lead concentrate by its commodities trading
business. The commodities trading complements CMR's core strategy of acquiring
and developing prospective mining projects in Morocco.

Commodities trading

CMR has capitalised on the board's experience and knowledge of the domestic
mining industry to source metal and mineral concentrates and raw ores from
Morocco's distinct mining regions, for marketing either through the Casablanca
commodities market or directly to international customers.

The trading involves buying and selling raw ore and concentrates from small
scale miners and aggregators before selling the material at the most
favourable payment terms available.

Lead mining in Morocco

Following the recent announcements relating to antimony and copper, the
Company has now undertaken its first transaction in high-grade lead
concentrate.

This trade is consistent with our strategy of sourcing material from smaller
producers and, where appropriate, deploying our joint venture partner's
established concentrating facilities. The transaction is one of several being
undertaken this year, and it positions CMR as a modest, but expanding and
ambitious, trading entity in Morocco.

 

Charlie Long (CEO) commented: "We are delighted to have undertaken our first
lead trade, a product stream that has the potential to grow very significantly
given Morocco's lead production levels. I'd like to highlight that the three
trades announced over the last few days reflect our team's experience and
reach in the Moroccan mining and metals-trading sectors. This expertise will
also be the key to CMR's future success in mine development, in terms of
securing our preferred project and progressing it quickly and efficiently for
the benefit of shareholders".

 

Lead background

Morocco is a significant producer of lead, exporting approximately 120,000
tonnes of lead concentrate in 2022, mostly from three districts  (i) Touissit
Bou and Beker in the north east, close to the border with Algeria (ii) the
Aouli Mibladen area near Midelt, and (iii) the Aouam area south of Meknes.

Domestic consumption of lead is modest, with the ceramics industry of the
Rabat-Salé region the main consumer for the fabrication of pottery glazes.
Most crude ore and lead concentrates are exported. In 2022 Morocco was the
13th largest exporter of crude lead ore and concentrates globally, with
Germany, South Korea and Italy its major trading partners.

Lead is seen by CMR as one of five priority opportunities for near-term sales
growth alongside manganese, zinc, copper, antimony and various industrial
minerals.

Fig 1: Morocco mining map

Source: Company

CONTACT:

 Critical Mineral Resources PLC           info@cmrplc.com

 Charles Long, Chief Executive Officer
 Novum Securities                         +44 (0) 20 7399 9425

 Jon Belliss

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company
focused on developing assets that produce key commodities for the global
economy including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as being at the
start of a supply and demand supercycle.

CMR is building a diversified portfolio of high-quality metals exploration and
development projects in Morocco, focusing on copper, manganese and potentially
other critical minerals and metals. CMR identified Morocco as an ideal
mining-friendly jurisdiction that meets its acquisition and operational
criteria. The country is perfectly located to supply raw materials to Europe
and possesses excellent prospective geology, good infrastructure and
attractive permitting, tax and royalty conditions. In 2023, the Company
acquired an 80% stake in leading Moroccan exploration and geological services
company Atlantic Research Minerals SARL.

Since taking over the CMR in 2022, the current management has completed a
comprehensive strategic review and restructuring of the business and
implemented its clear strategy to maximise exploration and resource
development opportunities for the benefit of all stakeholders. The Company is
listed on the London Stock Exchange (CMRS.L). More information regarding the
Company can be found at www.cmrplc.com (http://www.cmrplc.com/)

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