LONDON - The United Kingdom (TADAWUL:4280) Critical Minerals Intelligence Centre, a collaborative effort between the UK Department of Business & Trade and the British Geological Survey, has officially added zinc to its list of critical minerals. This inclusion is poised to significantly benefit Rockfire Resources plc (LON: ROCK), a company specializing in the exploration of base metals, precious metals, and critical minerals.
Rockfire's wholly-owned Molaoi zinc project in Greece, which contains over 1 million tonnes of zinc metal, is anticipated to gain from zinc's new status. The Molaoi project is recognized as one of the top 20 undeveloped zinc deposits worldwide. The company's portfolio also includes copper, germanium, and molybdenum assets, which are considered critical in various jurisdictions.
The demand for zinc, a metal primarily used for galvanizing steel to prevent rust, spans multiple industries, including automotive, marine, manufacturing, industrial, agricultural, construction, and aviation. Additionally, zinc plays a critical role in protecting wind turbines and solar cells from the elements and is found in everyday products such as soap, shampoo, paint, toothpaste, health supplements, insect repellent, rubber, ink, cosmetics, and pharmaceuticals.
David Price, CEO of Rockfire, expressed enthusiasm about the development, stating that the recognition of zinc as a critical mineral validates the company's strategy to secure key mineral deposits. Price also indicated that the Molaoi project's resource could potentially be expanded further north, suggesting a significant upside to the current zinc resource.
The UK's move to categorize zinc as critical is reflective of its high dependence on zinc imports and concerns over supply risks related to refining and concentration processes. Zinc's critical status is echoed by its inclusion on the critical minerals lists of the United States, Canada, and Korea.
Rockfire Resources is committed to contributing to Europe's ambition for a domestic supply of critical raw materials, with the Greek government showing strong support for the company's activities in the region. The company plans to continue updating the market on its exploration and development progress.
This article is based on a press release statement from Rockfire Resources plc.
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