AI Data Centre utilises copper.
Moroccan exports by value. The 2015 mining code reform was a pivotal step in opening the sector for exploration, aiming to boost foreign investment and position Morocco as a key player in global critical minerals markets. Being a relatively new jurisdiction, Morocco is significantly underexplored despite ranking as Africa’s second most attractive mining destination according to the Fraser Institute. There are multiple copper exploration projects throughout the country where copper mineralisation is even visible at surface, demonstrating the significant prospectivity of the country. However, further exploration campaigns by Talisman and other operators are needed to unlock the full potential of the area. With its geological potential and a commitment to mining sector growth, Morocco presents significant opportunities for companies like Talisman Metals. Looking ahead, the company’s exploration efforts scheduled for 2026 at Fougnar and Tirzzit are focused on gaining a deeper understanding of the geography and potential of both projects, which will cumulate in drill campaigns – the ultimate test of any geological project. Overall, copper’s pivotal role in driving the electrification, green energy, and AI sectors highlights its strategic importance across numerous global industries. To meet rising demand and strengthen supply chains, companies such as Talisman Metals are needed to bring new resources online and lay the foundation for the future supply growth of the copper market. n
within a jurisdiction that is expected to become even more strategically significant as technology copper demand increases, and copper consumers pay more attention to jurisdictional supplier risk. In February, the company announced its acquisition of the Tirzzit copper project, consisting of two mining licenses covering 16.5km². Tirzzit is located 85km north-east of the existing Tizert copper-silver mine, held by the Managem Group, which has an estimated mineral resource of 130 million tonnes and is currently entering commercial production. Both project areas feature sediment- hosted copper deposits, an important but often overlooked source of the metal. Accounting for approximately 20% of global copper production, sediment-hosted deposits that have enough material to justify building a mine, tend to be less expensive to develop than other types of deposits due to the nature of the geology. Porphyry copper deposits are the largest source of copper, but they tend to present unique development challenges due to size. Capex inflation has largely “priced out” porphyry copper mine development to all but the very largest mining companies. Talisman benefits from Morocco’s growing status as a premier destination for mineral exploration and development. With its world-class geological potential and strong mining legislation, the country has a favourable investment climate, with the mining sector contributing approximately $3.9 billion to its GDP in 2024 and representing roughly 30% of total
Review of copper bearing material from past trenches at Talisman’s Fougnar Copper-Silver Project, Morocco.
28 million metric tonnes in 2025 to 42 million metric tonnes by 2040 – an increase of 50%. However, despite these strong demand fundamentals, the copper market still faces significant supply challenges. Declining ore grades at existing operations are reducing output efficiency and making it increasingly difficult to keep up with growing global demand. At the same time, supply remains geographically concentrated in Chile, Peru, and China, limiting the pace at which new supply can be brought online and subjecting supply chains to geopolitical and environmental risk. Addressing this projected supply gap will require a new generation of copper projects to be discovered, developed, and brought into production. Without meaningful investment in new production, the market could face a shortfall of up to 10 million metric tonnes by 2040 according to S&P Global. How Talisman Metals is leveraging Morocco’s copper resources Against this backdrop, Talisman Metals, a company focused on copper exploration in Morocco, is positioned to contribute to the next phase of global copper supply as demand continues to grow. Led by an experienced management team with expertise spanning mineral exploration, mining entrepreneurship, and Moroccan business operations, Talisman is advancing a development strategy aligned with long-term global copper demand trends. Talisman’s goal is to identify and advance copper resources capable of supporting supply requirements. By leveraging its technical expertise and regional experience, the company is positioned
May 2026 | www.modernminingmagazine.co.za MODERN MINING 9
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