Critical Mineral Resources PLC (LSE:LON:CMRS) has completed a sale of high-grade copper ore as part of its commodities trading business in Morocco.
Containing 5-10% copper, the product was sourced from a small-scale mine in the Anti-Atlas region. This transaction supports CMR’s efforts to expand its mining and trading operations.
CMR works with a local Moroccan partner to manage sourcing, quality control, and logistics, including storage and shipping. The company focuses on acquiring and developing mining projects while increasing trading activity.
Copper is essential for renewable energy, electric vehicles, and electrification, with global demand expected to grow from 26 million tonnes today to 36 million tonnes by 2040, despite supply challenges.
This copper trade reflects CMR’s strategy of sourcing from smaller producers and improving materials through upgrades, ensuring a steady supply to international markets.
CEO Charlie Long said: "Moving into copper illustrates how nimble and well connected our Moroccan partnership is, and the potential for the business to grow into something important.
"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."