Massive Mineral Wealth Unearthed in Siroua, Ouarzazate: A Major Discovery Boosts National Economic Prospects

ALDAR/

The Canadian company Catalyst Mines Inc. has announced a major mineral discovery in the Siroua region, located in the province of Ouarzazate.

According to an official statement from the group, vast quantities of chromium and cobalt — essential minerals used in several strategic industries, including battery production and electric vehicles — have been found.

The Canadian firm estimates the value of these mineral deposits at over 60 billion US dollars, making it one of the most significant mineral discoveries in the region in recent years. This enormous natural resource is expected to provide a powerful boost to foreign direct investment in Morocco, particularly in sectors related to manufacturing and clean technologies.

The province of Ouarzazate, known for its strategic geographical location and diverse natural resources, has long been a key attraction for investors, especially in the fields of renewable energy and mining. With this new discovery, international companies are expected to turn their attention even more toward the region, which will enhance job opportunities and contribute to both local and national economic development.

Catalyst Mines has affirmed its commitment to working in partnership with Moroccan authorities to ensure the sustainable exploitation of these resources, in full respect of environmental standards and local community rights.

This achievement highlights Morocco’s growing importance as a vital hub for critical natural resources, especially at a time of rising global demand for minerals essential to the development of modern technologies and the transition toward a green economy.