Morocco grants offshore mining licences near Canary Islands as Spain remains silent
Morocco is awarding seabed exploration licences to foreign firms in waters adjacent to the Canary Islands while the Spanish government takes no public action.
According to security analyst Ramón Cuerda Riva, Morocco is using its domestic legislation to allocate offshore exploration rights near the Canary Islands to multinational firms, including NewMed Energy, ENI, QatarEnergy, Chariot and Europa Oil & Gas. The targeted zones contain potential gas deposits and a submarine mountain called Monte Tropic, which is thought to hold valuable rare-earth elements. Spain’s government, led by Pedro Sánchez, has not publicly responded, focusing instead on stability in Ceuta and Melilla and on migration cooperation.
Morocco frames the licences as a way to attract international capital and to protect its interests against any Spanish claim. If future Spanish administrations try to reverse the deals, they could face legal disputes and compensation claims from the involved foreign companies.
Why it matters
The licences could lock up valuable energy and mineral assets for decades, limiting Spain's economic options in the Atlantic.
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