Fortescue Prepares Its Mining Exploration Campaigns in Morocco
The Australian group Fortescue is strengthening its presence in Morocco by preparing to launch new mining exploration campaigns. The iron ore producer plans to establish a procurement office in Casablanca to manage its supplies, while an exploration office will be set up in Marrakech to oversee field operations.
This organization is expected to help the group structure its future needs for equipment and specialized services, while developing a network of Moroccan and international suppliers. Fortescue aims to prepare its operations in the kingdom, specifically targeting copper, gold, iron ore, and other critical minerals.
A Procurement Office to Prepare Future Projects
Based in Casablanca, the upcoming procurement office will be tasked with gearing up for the exploration activities of Fortescue’s metals branch in Morocco. It will need to identify potential suppliers, evaluate their capabilities, collect their proposals, organize tenders, and negotiate the commercial terms of future contracts.
The procurement schedule will be established based on the progress of the projects, technical priorities, and needs endorsed by the group. This approach aims to anticipate operational requirements and ensure the availability of the services and equipment necessary for exploration campaigns.
Fortescue is placing particular emphasis on four categories of specialized services: geophysics, laboratory analyses, safety, and environmental services. The group intends to engage with the relevant providers early enough to consider preparation timelines and select companies in advance.
Targeting Moroccan Companies for Future Contracts
Beyond services directly related to geological studies, Fortescue plans to rely on suppliers to manage the logistics for its teams in the field. Identified needs include camps, vehicles, medical services, fuel, communications, and services related to local communities.
These supplies are intended to support the operations of teams deployed at exploration sites, covering their accommodation, travel, and resupply needs. For small local expenditures with minimal risk, the group also plans to implement simplified procurement procedures.
Thus, the Australian company demonstrates its intention to integrate Moroccan firms into its supply chain. However, the concrete possibilities will depend on the project requirements, selection procedures, and the ability of suppliers to meet the group’s technical and operational standards.
Marrakech at the Heart of Exploration Initiatives
In parallel, Fortescue plans to set up an exploration office in Marrakech, which will oversee a large team of geologists and the necessary services for field operations. This structure will be responsible for conducting exploration campaigns in various regions of Morocco, under the leadership of an executive overseeing exploration activities in both Morocco and Kazakhstan.
The proposed program includes geological surveys, geophysical and geochemical studies, as well as core drilling or reverse circulation drilling. The research will notably focus on copper, gold, lead, and zinc, in addition to iron ore and other strategic mineral resources.
The group also intends to compare the geological potential and financing needs of relatively unexplored areas with those of more advanced projects. Depending on their attractiveness, these could be the subject of acquisition or partnership in the form of a joint venture.
This approach is expected to allow Fortescue to evaluate different investment possibilities in the Moroccan mining sector, without limiting its research to a specific type of deposit or region.
Fortescue Reports Strong Financial Results
The ramping up of activities in Morocco comes at a time when the Australian group is reporting increased financial results. For the fiscal year ending June 30, 2026, Fortescue recorded a revenue of $16.97 billion, approximately 166.28 billion dirhams, marking a 9% increase.
Its underlying net profit rose by 3% to reach $3.46 billion, equivalent to nearly 33.9 billion dirhams. Iron ore shipments reached a record 201.3 million tonnes, while free cash flow amounted to $3.2 billion, up 25%.
These performances create a favorable context for preparing new projects, although the investments that will be actually made in Morocco will depend on the results of exploration and subsequent decisions by the group.
A Distinct Partnership with the OCP Group
Fortescue also announced in April 2024 a joint venture project with Morocco’s OCP Group, which specializes in phosphates and fertilizers. This partnership aims to explore several avenues of cooperation, including the production of hydrogen and ammonia from renewable energy sources, the manufacturing of fertilizers and industrial equipment, as well as the establishment of a research center near Marrakech.
This project falls under Fortescue’s energy branch, while the new mining exploration operations are spearheaded by its metals division. The two initiatives are in distinct fields but reflect the Australian group’s interest in developing its activities in Morocco.
With a procurement office in Casablanca and an exploration framework set for Marrakech, Fortescue is thus preparing for a more structured operational presence in the kingdom. For Moroccan companies, the upcoming markets related to geology, logistics, and field services could represent new opportunities, contingent on the effective launch of campaigns and award of contracts.
