2023-11-26 13:36:35
Managem’s turnover stood at more than 5.93 billion dirhams (billion dirhams) at the end of September 2023, down 19% compared to the same period of the previous year.
This development is marked by the significant drop in metal prices on the international market, notably cobalt for -41%, zinc for -31% and copper for -10%, indicates the mining operator in a press release on its results. financial.
This trend also reflects the appreciation in the prices of precious metals, gold and silver of 3% and 5% respectively; as well as the consolidation of the USD/MAD exchange rate.
Managem also reports a decline in gold turnover in Sudan, due to the suspension of operational activities since April 20, 2023, due to political tensions in the country, as well as a decline in volumes sold of gold from the TRI-K mine in Guinea, following operational disruptions currently being resolved.
Furthermore, investments at the end of September 2023 amounted to MAD 1.76 billion, 43% of which was allocated to the Group’s development projects, in particular the start of construction work on the Tizert copper project and the construction of copper processing facilities. the black mass.
For its part, the consolidated net debt amounted to MAD 7.08 billion, an increase of MAD 2.73 billion compared to the end of 2022, marked by the maintenance of the Group’s investment effort to support the projects of development and payment of the acquisition price of Bambouk assets in Senegal for an amount of MAD 1.7 billion disbursed in the 2nd quarter of the year.
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