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Denver- Altus Strategies PLC announced on Wednesday an expansion of operations in Morocco, with new silver and copper operations being planned in Morocco’s anti-Atlas region.
According to the press release, the new operations will cover an area of over 57 square miles, and the future sites will be located near the cities of Ouarzazate and Tinghir.
Altus has named the new sites the Agoudim Silver Project, the Assif Silver & Gold Project, the Anezal Base Metal Project, and Tazoult Silver Project. Additionally, the Agdz Copper-Silver Project, already under operation, will be expanded under terms from the contract.
Morocco awarded the sites to Altus after a “competitive tender process” that pitted Altus against other mining companies in an intense bidding process. The company believes each new site “to be highly prospective for silver and copper.”
CEO of Altus, Steve Poulton, stated the new projects were “strategically well located,” and the new sites are all located less than twenty five miles from other sites currently in operation.
Altus is a UK-based mining royalty company, which explores potential mining opportunities, where it then grants permission for mining companies to extract minerals at its sites in exchange for a share of the mined deposits. Altus is heavily focused on the African continent, and the company has projects located in Morocco, Cameroon, Mali, Egypt, and Ethiopia. The company highlights its diversified portfolio with operations currently mining silver, copper, gold, iron, zinc, and lead.
The new agreements brings the total projects Altus is operating in Morocco to fourteen. The projects are spread throughout central, southeastern, and southwestern portions of the North African country.
With the new sites secured with Morocco’s government, Altus will now deploy its survey teams to assess the potential for revenue at each location. Teams will use “in-house remote sensing” technology to prioritize areas for further exploration.
