Latest news with #CasablancaAntimonyProject
Zawya
12-03-2025
- Business
- Zawya
Australia's Zeus Resources acquires Casablanca Antimony Project in Morocco
Zeus Resources, an Australian-listed exploration company, announced it has entered into an agreement with Ashgill Morocco to acquire the Casablanca Antimony Project in central Morocco. The acquisition includes six exploration licenses covering 79 square kilometres, targeting antimony mineralisation associated with a regional fault structure, the company said in a stock exchange statement on Monday. The transaction will be completed through Zeus's wholly owned Moroccan subsidiary, Zeus Morocco Resources, and remains subject to shareholder approval. Financial details weren't disclosed but the statement said expansion of exploration drilling is permitted under existing licenses, which remain valid until 23 March 2026, with an option for a four-year extension. Ashgill Morocco is a subsidiary of Ashgill Australia, a mining consultancy with projects in Australia, Morocco, and Mongolia. Antimony is a critical mineral with growing geopolitical significance, particularly in solar photovoltaics (PV) and military supply chains. The global antimony market is facing supply constraints, driven by China's production declines and export restrictions, resulting in record-high prices. According to the statement, the project area contains historical and recent artisanal mine workings, with high-grade rock chip assay results indicating antimony concentrations of 61.9 percent, 44.5 percent, and 39.4 percent Sb. Outcropping massive stibnite mineralisation has also been identified. Additionally, the site benefits from year-round access via sealed and unsealed roads. According to the Fraser Institute Annual Survey of Mining Companies 2023, Morocco is Africa's second most attractive mining jurisdiction after Botswana, enhancing the project's strategic value. (Writing by Majda Muhsen; Editing by Anoop Menon)
Morocco World
11-03-2025
- Business
- Morocco World
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
Ya Biladi
10-03-2025
- Business
- Ya Biladi
Australian mining firm Zeus Resources acquires antimony project in Morocco
Zeus Resources Limited, an Australian company specializing in uranium and other metal exploration, has announced the acquisition of the Casablanca Antimony Project in central Morocco. The project covers six exploration licenses across a 79-square-kilometer area. This acquisition positions Zeus to leverage the tightening global antimony market, which is currently facing supply constraints amid rising demand in sectors such as solar photovoltaics and military supply chains. The project offers immediate exploration potential, with existing infrastructure ensuring year-round access. Zeus Resources Ltd focuses on the exploration and development of mineral resources, acquiring and managing high-quality exploration projects, particularly those involving industrially significant minerals.
