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Rabat – British exploration company Critical Mineral Resources (CMR) has secured a £2.5 million investment from Gilini Holdings to finance its activities in Morocco.
CMR said in a statement that it will use the funding for project acquisition, expanding its commodities trading venture, and working on its existing portfolio. “The Company will continue to focus all its efforts on Morocco,” CMR added.
The company has already received a first payment of £425,000. A second payment of £1.325 million is expected in the second quarter of 2025, while a third payment of £750,000 is planned for the first quarter of 2026.
CMR’s Chief Executive Officer, Charlie Long, expressed excitement over the signing of the agreement, which he said would allow the company to fund its exploration and development work.
“We are very pleased to have secured this strategic investment which will allow CMR to deliver an exciting business development story throughout the remainder of 2025 and beyond,” Long said.
Noting the challenges junior mining companies face to secure sufficient funds for their work, he said that “CMR is now in the excellent position of being well-financed, enabling it to focus on creating value in Morocco and executing on some extremely exciting opportunities.”
Meanwhile, Russell Tucker from the Gilini Investment team said they have “full confidence in CMR’s leadership to unlock this opportunity.”
“We are thrilled to support CMR as we see immense untapped potential in Morocco, particularly for copper,” Tucker added.
CMR’s work focuses on exploring and developing metals and minerals in the North African country. The company looks for valuable mineral deposits, such as copper and manganese, and works to develop them into mining projects.
For the company, Morocco is an “ideal mining friendly jurisdiction” that meets its acquisition and operational criteria. CMR also noted the country’s geographical location, making it easier to supply raw materials to Europe.
