In the second quarter of 2025, Compagnie Minière de Touissit (CMT) processed 90,630 tons of ore, reflecting a 2% increase compared to the same period last year. This improvement is attributed to enhanced operational management, supported by optimized organization and better performance.
Concentrate production reached 7,170 tons, up 16%, indicating improved ore grades. Similarly, concentrate sales increased by 25%, totaling 6,970 tons, benefiting from a favorable market environment and strong commercial performance.
CMT achieved consolidated revenue of 173 million dirhams (MDH) in the second quarter, a 23% growth compared to the second quarter of 2024. For the entire semester, revenue rose by 22% to 343 MDH. This performance confirms the combined effects of increased volumes, better grades, and sustained valuation of precious metals in the LME/LBMA markets, particularly silver, which saw a 17% price increase during the period.
Investments in Q2 2025 amounted to 18 MDH, down from 33 MDH in Q2 2024, reflecting the completion of major works on the new Tighza shaft. Total investments for the semester reached 27 MDH, including 10 MDH allocated to R&D in the Tighza area and 8 MDH for final adjustments to the shaft, with significant contributions from investments related to the Tabaroucht project development.
As of the end of June 2025, CMT's net debt decreased by 39% to 141 MDH, attributed to a reduction in long-term debt (-42%) following scheduled repayments.
Looking ahead, with the commencement of production at the new Ighrem Aousser shaft and the acceleration of the Tabaroucht copper project development, CMT continues to implement its strategy for responsible growth. The year 2025 is expected to mark a new phase of industrialization and sustainable value creation, contributing to territorial development and the national economy. Regular monitoring is in place for risks related to foreign exchange control and other recovery and participation risks.
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