Australia's Zeus Acquires High Quality Antimony Exploration Project in Morocco
Rabat – Australian uranium company, Zeus, has announced an agreement with Ashgill Morocco Limited, to acquire the Casablanca Antimony Project, described by Australian and industrial media as a 'high prospective' project in central Morocco.
The project covers six exploration licenses covering an area of 79 kilometers cubic meters, with reports suggesting that a similar deal could contribute in strengthening the company's position in the antimony market.
Antimony is a metallic element that belongs to the nitrogen group. It is used in different industries, including the military, automotive sectors, and others. The element is also used in solar photovoltaics, also known as 'PV.'
According to an overview on the antimony market by Maximize Market Research, the market size was valued at an estimated $299.28 million in 2023, with revenue expected to grow by 5.9% from 2024 to 20230 to reach nearly $447 million.
' Global Antimony is a valuable mineral that is regularly utilized in modern industrialized countries. The element improves the strength, durability, and chemical resistance of alloys used in a variety of industries, including lead-acid storage batteries,' the website said.
Industry focused website Tip Ranks said Zeus' decision is strategic, set to position the company to capitalize on the 'tightening global antimony market, driven by supply constraints and high demand in industries such as solar photovoltaics and military supply chains.'
The website also stressed Morocco's assets, describing it as a region ranking highly for mining investment.
List Corp also commented on the acquisition, noting that antimony is a critical mineral that is essential for different industrial applications.
'The global antimony market is experiencing significant supply constraints,' the website said, citing reasons like China's production decline and export restrictions.
'These have contributed to a tightening supply-demand dynamic and record-high prices,' the source added. Tags: critical mineral mining
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Australia's Zeus Acquires High Quality Antimony Exploration Project in Morocco
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