Talisman Metals expands Morocco copper mining portfolio

Talisman Metals PLC is expanding its Morocco copper mining portfolio with the acquisition of the Tirzzit copper project, sharpening its exposure to North Africa’s fast-growing critical minerals sector as global demand for copper accelerates on the back of the energy transition.

The Dublin-based mineral exploration company said it signed an agreement to acquire the Tirzzit asset through its wholly owned subsidiary, Horizons Mines, from a subsidiary of Aya Silver & Gold. Aya, which is listed on the Toronto Stock Exchange, holds a 4.7% stake in Talisman, underscoring a growing strategic alignment between the two mining companies in Morocco.

As part of the transaction, Talisman will assign a noncore licence within the Boumadine region to Aya’s subsidiary. To complete the deal, Talisman will pay approximately £16,000 ($21,810), a modest outlay that analysts say highlights the company’s capital-efficient approach to copper exploration and asset consolidation in Morocco.

Strengthening Morocco copper assets

The Tirzzit copper project comprises two mining licences covering 16.5 square kilometers within the Agadir regional mining department. The site is located roughly 85 kilometers northeast of Talisman’s flagship Tizert copper and silver project, allowing the company to build operational synergies and geological continuity across its Moroccan assets.

Talisman also controls the Argana copper project, which includes five exploration permits. The addition of Tirzzit advances the company’s project pipeline with a more developed exploration target supported by historical drilling and geological data.

The Tirzzit deposit is classified as a sediment-hosted stratiform copper and gold system, a geological model similar to Tizert. Such formations are increasingly attractive to investors seeking scalable copper resources amid tightening global supply and rising prices driven by electric vehicles, renewable energy infrastructure and grid expansion.

Chief Executive Tim McCutcheon said securing the asset on favorable terms reflects the company’s disciplined corporate development strategy and its collaboration with Aya on earlier-stage copper projects that align with Talisman’s growth profile.

Capitalizing on global copper demand

Morocco has emerged as a strategic mining destination in Africa, offering regulatory stability and expanding infrastructure. Talisman’s growing copper portfolio positions it to benefit from global supply constraints and sustained demand for base metals critical to decarbonization and industrial electrification.

The company plans to analyze existing exploration data at Tirzzit in the coming months to outline a development roadmap, potentially accelerating resource definition and future production planning.

Founded in 1985 and headquartered in Dublin, Talisman Metals, formerly Ovoca Bio, rebranded in February 2026 to focus squarely on copper exploration and development. 

The company now specializes in identifying and advancing copper deposits using advanced geological analysis and mineral exploration technologies, serving global industrial markets seeking secure, diversified copper supply chains.

With Tirzzit, Talisman is doubling down on Morocco copper mining as investors increasingly look to Africa for the next wave of critical minerals growth.