Morocco’s Managem reports 20% rise in Q1 revenue
me-metals: Morocco’s largest mining group Managem reported on Monday a 20% rise in its first-quarter revenue to 2.32 billion dirhams ($250 million), driven by higher gold, silver, copper and cobalt prices.
According to me-metals cited from mining.com, The Casablanca-listed firm invested 1.5 billion dirhams in the first three months of 2025, with 65% allocated to its Tizert copper mine in Morocco and the Boto gold project in Senegal, Managem said in a statement.
Commercial production at both sites is expected to begin in the second half of the year, the company said.
Managem diversified its portfolio into the natural gas sector last year through the acquisition of Sound Energy’s assets in eastern Morocco.
The company’s debt rose to 11.9 billion dirhams by the end of March, up 13.6% from December 2024.
In 2024, Managem posted an annual revenue of 8.85 billion dirhams, up 18%, and a net profit of 620 million dirhams, up 17% year-on-year.
source: mining.com
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