Morocco’s Managem to start production at Senegal’s Boto gold mine

Moroccan leading mining company Managem plans to start commercial production at its Tizert copper project in Morocco and Boto gold mine in Senegal in the second half this year.

The company had spent 65% of its first quarter investments on the two projects, it said, noting that total investment in the first three months this year totaled 1504 billion dirhams.

The company’s revenue rose 20% to 2.3 billion dirhams it said, noting higher gold, copper and cobalt revenue.

In this respect, the company noted strong prices of the metals with increases varying from 28% for gold, 35% for silver and 14% for copper.

Managem operates in eight African countries and has recently expanded to natural gas in Eastern Morocco, with the acquisition of Sound Energy.