CMT’s activities during the first half of 2024 were marked by a favorable evolution in the prices of the metals produced, particularly silver. This situation was accompanied by stable developments in concentrate production, despite the occasional operational constraints encountered during the second quarter. This made it possible to limit the impact of these challenges on turnover, which stood at MAD 281 million, recording an increase of 2.2% compared to the same period in 2023.
Operating income stood at MAD 141 million, up 1.9% compared to last year. The operating margin stabilizes at 50.0% compared to 50.2% in 2023, in a context of sustained investments in project development.
This performance was made possible by improving processing costs for processed and shipped production, which made it possible to maintain a high level of profitability. However, the net result stood at MAD 92 million, down 2.6% compared to 2023 due to non-recurring factors.
Main consolidated indicators
At the consolidated accounts level, CMT also recorded solid performances.
Consolidated turnover stood at MAD 281 million, compared to MAD 275 million in the first half of 2023, an increase of 2.1%. The consolidated operating profit stands at MAD 144 million, in line with the group’s growth dynamic. The consolidated net profit, Group share, stands at MAD 93 million, an increase of 3.3% compared to MAD 90 million recorded in the first half of 2023.
Continued development of CMT mining projects
CMT is actively pursuing its development projects, both nationally and internationally, with significant progress on several fronts. On the historic site of Tighza, work prior to the entry into production of the new well is continuing. This project was accompanied by preparation work to access a new zinc vein with high added value. At the same time, the Tabaroucht copper project continues to progress with the completion of an initial impact study and preparation of research work.
Perspectives
The deployment of CMT’s main projects should continue, while optimizing the organization and strengthening the Group’s governance. The company also affirms its commitment as a responsible mining player, determined to generate a positive impact and create sustainable value for all of its stakeholders, particularly on its production and exploration sites in the Béni region. Mellal-Khénifra. This positioning will be reinforced by the rise in power of the Tighza site and the continued development of its mining heritage, both in Morocco and internationally.
