Finance

Trigon metals acquires the Silver Hill project in Morocco

Wednesday, 20 November 2019 15:33
Trigon metals acquires the Silver Hill project in Morocco

(Ecofin Agency) - Toronto-based mining company Trigon Metals announced it has concluded a non-binding memorandum of understanding to acquire full stake in the Silver Hill copper/silver project in Morocco. The project covers 16 km2 in the country’s Anti-Atlas region, which is home to Africa’s major silver mines, mainly Imiter and Zgounder.

Initial exploration works undertaken by Office National des Hydrocarbures et des Mines has shown that this is a project with high-grade mineralization. “We are excited to introduce another high-grade copper asset to Trigon’s portfolio […] We aim to explore and develop new copper resources in mining-friendly African jurisdictions,” said CEO Jed Richardson.

Morocco is recognized as a mining-friendly jurisdiction, with an established industry that produces about 40 million tons of minerals per year. The country produces 90% of the world's supply of phosphates and extracts copper, cobalt, gold, silver, and zinc.



 
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