The Managem Group has sold its subsidiary Samine to the Australian group Atlantic Tin, marking an important step in its strategy of restructuring and rationalizing its mining portfolio.
The Managem group has sold its subsidiary Samine to the Australian group Atlantic Tin, marking an important step in its strategy of restructuring and rationalizing its mining portfolio. The agreement, signed on May 29 with Titan Tin, a Moroccan company 100% owned by Atlantic Tin, allows Samine to reorient itself towards tin mining.
The opportunity for Imad Toumi, CEO of Managem, to declare: “This sale is part of the strategy of restructuring and rationalization of our mining portfolio”.
According to him, it represents a fantastic opportunity for Samine to continue to operate under the banner of a large Australian group and demonstrates the attractiveness of the Moroccan mining industry to foreign investors.
Recall that since 2021, Samine has suspended its fluorite extraction and production activities at the El Hamam deposit, located in the Meknes region, due to the drop in prices and the economic unviability of the remaining resources. Since this suspension, the company has focused on the rehabilitation of its site, while respecting the environmental commitments of the Managem Group. Atlantic Tin is developing the Achemmach Tin project near the Samine site. Tin is a strategic metal used in the electronics industry, electric vehicles and metal alloys.
This sale allows Samine to reconvert to tin exploitation, thanks to an exploration program planned by Atlantic Tin within the scope of the license. Atlantic Tin also plans to upgrade the Samine processing unit to adapt it to tin production, thereby exploiting existing industrial assets.
This operation aims to achieve synergies for better valorization of tin resources and ensures an efficient transition of mining assets between stakeholders. Note, moreover, that Samine will continue to market concentrates with a low fluorine content for the needs of the national market, in particular cement manufacturers. Remember that Managem, which has a diversified portfolio between gold and energy transition metals, is present in 7 African countries and employs 5,009 people.
Sanae Raqui / ECO Inspirations
