Steadright Critical Minerals Inc. (CSE: SCM) has announced developments regarding its TitanBeach Titanium Project, located along the Atlantic shoreline of Morocco. The company has secured a memorandum of understanding (MOU) to acquire two additional exploration licenses, which will significantly expand its existing mineral claims.
This strategic MOU will add 32 square kilometers to the current 192 square kilometers managed by NSM Capital Sarl, a Moroccan company in which Steadright retains a 75% ownership stake.
The acquisition of these new licenses is expected to enhance the company’s operational capabilities in the region, solidifying its position in the competitive titanium market.
Table of Contents:
Details of the MOU agreement
Under the terms of the MOU, Steadright has committed to a payment of up to $150,000 USD for the acquisition of the two exploration licenses. Once finalized, these licenses will be integrated into the operations of NSM Capital Sarl, which maintains complete control over the TitanBeach Titanium Project’s mineral licenses. Importantly, there will be no net smelter royalty obligations associated with these new licenses, providing more favorable financial conditions moving forward.
Ongoing exploration efforts
Exploration activities at the TitanBeach site are progressing steadily, with NSM planning to launch an extensive exploration program in November. The Moroccan exploration team is expected to play a pivotal role in this initiative, collaborating with local officials to develop a comprehensive mining and environmental licensing plan.
Steadright’s CEO, Matt Lewis, expressed appreciation for the support received from Moroccan authorities, stating, “The professionalism of Moroccan officials has been invaluable as we navigate the complexities of expanding our operations. Their assistance has been a key component in our rapid growth.” He also highlighted the effectiveness of the local team, emphasizing their capability to facilitate operational tasks.
Understanding titanium dioxide’s significance
Titanium dioxide (TiO2) is recognized as a critical and strategic mineral across various global markets, including the United States, Canada, and Europe. The demand for TiO2 is increasing, driven by its essential applications in multiple industries—from manufacturing paints and coatings to producing plastics and cosmetics. The concentration of supply among a limited number of global producers intensifies competition for this valuable resource.
About Steadright Critical Minerals Inc.
Founded in 2019, Steadright Critical Minerals Inc. has established itself as a leader in the mineral exploration sector, focusing on critical minerals. With an eye toward near-term production in Morocco, the company is also renegotiating an option for the RAM property located near Port Cartier in Quebec. This property is situated within a geological unit known for its high prospectivity, particularly for nickel, copper, cobalt, and precious metals.
The acquisition of these new exploration licenses represents a significant step for Steadright, enhancing its operational footprint in Morocco and reinforcing its commitment to becoming a key player in the titanium market. As the company continues to advance its exploration initiatives, stakeholders and investors will be closely monitoring future developments.
