Mining Revenues Remain Relatively Stable in the First Half of 2025
The Managem Group announced that its consolidated revenue reached approximately 4.422 million dirhams as of June 30, 2025, marking a slight increase of 0.3% compared to the same period in 2024.
This development is primarily attributed to a noticeable increase in precious metal prices, with gold rising by 39% and silver by 26%, along with an overall improvement in sales volume within the Moroccan market. However, this growth was partially offset by a 4% depreciation of the dirham against the dollar, as well as a decline in gold quantities sold in Guinea due to temporary production disruptions, and a decrease in the revenue from the “Pompi” mine in the Democratic Republic of Congo due to local authorities suspending copper and cobalt exports.
In the second quarter of 2025, revenues totaled 2.098 million dirhams, reflecting a decline of 15.16% compared to the same quarter in 2024.
Regarding investments, they amounted to 2.885 million dirhams in the first half of the year, with 80% allocated for development projects, notably the construction of the “Boto” (gold) and “Tizirt” (copper) projects, which are nearing their final stages. The group is also continuing the construction of its strategic projects in Morocco, including the cobalt sulfate production unit and the natural gas project in Tendrara, which is expected to be operational by early 2026.
The group’s net consolidated debt reached 14.335 million dirhams, an increase of 4 billion dirhams compared to the end of 2024, reflecting the group’s continued significant investment efforts to support projects currently underway.
