Australian uranium company Zeus Resources has entered into an agreement with Moroccan company Ashgill Morocco Limited to acquire a project for the exploration and production of antimony, the second rarest mineral on Earth, in Casablanca.
The project involves obtaining six exploration licenses on an area of 79 sq. km. According to experts, the deal on this “highly promising project” will help strengthen the company's position in the antimony market.
Antimony is a shiny gray metal belonging to the nitrogen group. In ancient times, it was used in medicine and cosmetics, now it is actively used in various industries, including military, automotive and others.
It is used as a flame retardant in the production of microelectronic components and to improve the properties of glass, ceramics, batteries and medicines. It improves the strength, durability and chemical resistance of alloys. In 2023, the antimony market size was valued at $299.28 million. The sector is expected to grow by 5.9% to $447 million in revenues through 2030.
In light of the tightening global antimony market, driven by supply constraints due to the decline in production in China, and the high demand for the element in solar PV and military supply chains, the Zeus solution is considered strategic.
Morocco is considered a high-ranking region for mining investment.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
