Morocco’s Managem produces first gold bar at Guinea mine

Morocco’s mining leader Managem said it has produced a first gold bar at its Tri-K mine in Guinea, where it started gold production on June 23. Managem expects to produce 130,000 ounces of gold annually.

The company has announced earlier this year that it will start production at the mine where reserves exceed 1.56 million ounces of gold.

The push is part of Managem’s plan to increase its gold portfolio from 20% to 50% as it continues to focus on precious metals across the continent.

The company has also partnered with China’s Wanabo to increase gold production in a mine in Sudan to five tons of gold annually.

Besides Morocco and Sudan, Managem operates in the Democratic Republic of the Congo, Ethiopia, Gabon, Guinea Conackry, Côte d’Ivoire, and Mali.