Critical Mineral Resources PLC on Wednesday said it has been granted four new exploration permits in the regions of Rabat and Beni-Mellal, adding to its growing portfolio of Moroccan metals and minerals.

The company, which is focused on producing clean energy materials, will be granted access to an area of approximately 80 square kilometres in Northern Morocco.

Three of the new permits comprise the Meseta Project, located south of Rabat, in an area known for its potential in copper, tungsten, tin, and lead-zinc mineralisation. This location recently showed evidence of historical mining activity, the company said.

The permits come after Critical Mineral acquired an 80% stake in Atlantic Research Minerals SARL in June this year, and was granted permits for its Ighrem Project permit in early September.

Chief Executive Officer Charlie Long commented: ‘We are delighted to add the Meseta project to our portfolio of exploration permits. It fits CMR’s stated strategy of targeting Moroccan assets with the potential to produce clean energy commodities.’

Critical Mineral shares fell 9.0% to 3.30 pence each in London on Wednesday Morning.

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