Strong Q4 Performance
During the fourth quarter of 2025, Compagnie Minière de Touissit (CMT) reported a consolidated revenue of 168 million MAD, reflecting a robust 27% increase compared to the same period in 2024.
This growth can be attributed to a combination of higher sales volumes and rising metal prices.
Operational Stability
Operationally, CMT's concentrate production rose by 3% in the quarter, underscoring the company's stability and effective management of industrial performance.
Annual Revenue Growth
For the full year 2025, CMT's cumulative revenue reached 691 million MAD, an 18% increase from the previous year. This growth reflects both volume effects and an improved market environment for base and precious metals.
Impact of Weather Conditions
Due to adverse weather conditions affecting shipping and congestion at the Port of Casablanca in December 2025, the final shipments for the quarter could not be recorded. These shipments consisted of 3,187 tonnes of concentrate valued at 82 million MAD.
Investment and Debt Reduction
CMT continues to invest in operational and developmental projects. By the end of December 2025, investments totaled 14 million MAD in the fourth quarter, bringing the annual total to 52 million MAD, including 14 million MAD allocated for the new shaft construction.
The company has also significantly reduced its debt compared to December 2024, with net debt standing at 70 million MAD, a decrease of 70%. This reduction aligns with CMT's rigorous financial strategy focused on self-financing development projects and operational investments.
Certification of Tighza Mine Reserves
CMT has successfully certified the mineral reserves at the Tighza site in accordance with the international standard NI-43-101. This certification, conducted by the independent firm SGS Canada, is part of the company's commitment to transparency and good technical governance.
The proven and probable mineral reserves at Tighza are estimated at 7.694 million tonnes, with average grades of: Lead (Pb): 6.11%, Zinc (Zn): 1.11%, Silver (Ag): 95 g/t.
"This certification marks a crucial milestone in CMT's development, aligning the company with international best practices and reflecting the dedication of our team to establish CMT as a leader in the Moroccan economy," stated Abdellah MOUTTAQI, General Director of CMT.
Development Prospects
In relation to the Tabaroucht copper project, CMT has received approval for the environmental impact study, marking a significant step towards initiating the feasibility study.
By focusing on a critical metal for the energy transition, CMT is advancing its sustainable growth strategy while adhering to current environmental and regulatory requirements.
Legal Proceedings with the Foreign Exchange Office
CMT is closely monitoring the ongoing judicial appeal process following a first-instance ruling by the Casablanca Criminal Court, which imposed a fine of 2,324,307,274.26 MAD in favor of the Customs and Indirect Tax Administration.
Additionally, the company is regularly assessing risks related to debt recovery and the valuation of its investments, adopting a cautious approach to safeguard its assets and ensure the reliability of its investments.
