Managem's consolidated revenue for the first half of 2025 stands at 4,422 MDH, consistent with the same period in 2024. This stability is attributed to several factors:
- The appreciation of precious metal prices, with gold increasing by 39% and silver by 26%, partially offset by a 4% decline in the MAD/USD exchange rate.
- Overall consolidation of sales volumes in Morocco.
- A decrease in gold sales volumes in Guinea due to production disruptions.
- A decline in revenue from the Pumpi mine in the Democratic Republic of Congo following a suspension of copper and cobalt exports by Congolese authorities.
The Gross Operating Surplus is reported at 1,442 MDH, reflecting an increase of 19 MDH due to improved revenue. The financial result improved by 94 MDH, marked by a positive impact from foreign exchange results. The Group's Net Profit amounts to 380 MDH, up by 122 MDH, driven by increased operating and financial results.
Looking ahead, the Group continues its development strategy focused on major projects and has made significant progress, including:
- The completion of the gold mine construction in Boto, Senegal, marked by the first gold pour in August 2025.
- Ongoing commissioning work at the Tizert copper mine in Morocco, with commercial production expected in October 2025.
- Advancements in the construction of the Cobalt Sulfate and Tendrara gas projects (Phase 1), with start dates planned for 2026.
In the second half of the year, Managem will focus on ramping up production at the new Tizert and Boto mines to reach their nominal capacities by year-end. These projects are integral to the Group's development strategy and will serve as major growth drivers, strengthening Managem's position in the copper and gold markets.
You might also like
Loading related...