Mining Other
Moroccan miner Managem's first-half profit jumps as prices, production rise
Morocco's largest mining group Managem said on Friday its first-half profit attributable to shareholders surged to 3.778 billion dirhams ($395 million) from 380 million dirhams a year earlier, driven by its copper and gold production and stronger prices.
The result was attributed to high prices and full production capacity at its new Tizert copper mine in Morocco and the Boto gold mine in Senegal, Managem said in a statement
The second half of 2026 will constitute "a stage of consolidation", it said
Consolidated revenue more than doubled to 11.76 billion dirhams, said the Casablanca-listed company, which operates in seven African countries
Managem reported a slowdown in silver production however at its Morocco Imiter mine and its Tri-K gold mine in Guinea.
(Reporting by Ahmed El Jechtimi; Editing by Jan Harvey)
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