Expanding its mining horizon, Royal Road Minerals (TSXV: RYR) has teamed up with Saudi Arabia’s MSB Holdings, venturing into Morocco with a keen eye on a promising copper-gold exploration project. The $3.4 million deal marks Royal Road’s entry into the Moroccan landscape through the acquisition of Izughar Resources.
In line with Saudi Arabia’s green metals initiative, the partnership underscores a strategic shift, leveraging the kingdom’s petroleum revenues to invest in future minerals. This collaboration anchors on the Alouana project in eastern Morocco, spanning 680 square kilometers, known for its significant copper and gold reserves.
Tim Coughlin, Royal Road’s CEO, lauds Morocco’s mining-friendly policies and abundant copper geology, expecting the venture to contribute substantially to the country’s mining revenue growth plan. The partnership benefits from MSB’s extensive local engagement in Morocco, extending beyond mining into construction and cybersecurity sectors.
Morocco, globally recognized for its phosphate production, aims to escalate its non-phosphate mining revenues, anticipating more than a twofold increase by 2030. Against this backdrop, Royal Road’s shares exhibited a marginal uptick, reflecting investor confidence.
Focusing on the untapped potential of Alouana, the joint enterprise, Royal Road Arabia, is committing $150,000 for preliminary exploration, aiming for detailed drilling operations by early 2024. Initial assessments have revealed encouraging copper and gold mineralization, prompting further exploration.
Besides the Moroccan venture, Royal Road continues its exploration pursuits in Saudi Arabia, Colombia, and Argentina. In Colombia, its Güintar and Margaritas concessions, previously explored by AngloGold Ashanti, showed promising drill results, propelling the company’s strategy to divest certain assets for cash and royalties.
Meanwhile, in Argentina, Royal Road’s presence is marked by the Santo Domingo district, with several copper-gold targets already undergoing initial drilling phases, highlighting the company’s diversified approach in fortifying its exploration portfolio.
