Zeus expands its footprint in Morocco with antimony project acquisition

Australian uranium company Zeus has recently finalized an agreement with Ashgill Morocco Limited to acquire the Casablanca Antimony Project, a venture that has garnered attention as a "highly prospective" exploration initiative in central Morocco.

The project encompasses six exploration licenses over an area of 79 square kilometers. Industry analysts suggest that this acquisition may significantly bolster Zeus's standing in the competitive antimony market.

Antimony, a metalloid element, is integral to various industries, including military and automotive sectors, and is increasingly utilized in solar photovoltaics (PV). According to a market overview by Maximize Market Research, the global antimony market was valued at approximately 299.28millionin2023,withprojectionsindicatingagrowthrateof5.9299.28 million in 2023, with projections indicating a growth rate of 5.9% annually from 2024 to 2030, potentially reaching nearly 299.28millionin2023,withprojectionsindicatingagrowthrateof5.9447 million.

The website emphasizes that antimony is a valuable mineral extensively used in industrialized nations, enhancing the strength, durability, and chemical resistance of alloys employed in numerous applications, including lead-acid batteries.

Industry-focused platform Tip Ranks highlighted that Zeus's strategic move aims to position the company advantageously within a tightening global antimony market, marked by supply constraints and increasing demand from sectors such as solar photovoltaics and military supply chains. Morocco's rich mineral resources have been noted for their investment potential in the mining sector.

Furthermore, List Corp underscored the critical nature of antimony in various industrial applications, pointing out the significant supply challenges currently facing the global market. Factors contributing to this situation include a decline in production from China and export restrictions, which have led to a precarious supply-demand balance and record-high prices.