(Ecofin Agency) – In 2022, Aya Gold & Silver launched the construction of a new factory at its Moroccan Zgounder silver mine. The objective is to achieve an average annual production of 7 million ounces between 2024 and 2032, compared to less than 2 million ounces in recent years.
In Morocco, Aya Gold & Silver announced the start of commissioning activities for a new plant at its Zgounder silver mine. With a processing capacity of 2,000 tonnes of ore per day, the installation should allow the Canadian company to produce 7 million ounces annually on average until 2032, compared to 1.97 million ounces in 2023.
« So far, commissioning is going according to plan and all systems are working as expected. With a physical completion rate of 95% and capital expenditure on the project declining […] we expect the investment in Zgounder to begin producing significant cash flows», commented Benoit La Salle, CEO of Aya.
According to the 2022 feasibility study, the Zgounder expansion project required an investment of approximately $140 million. Aya Gold & Silver also forecast $172 million in revenues from 2024 at Zgounder, with the success of this project. It should be recalled that in the forecasts published in early 2024, the Canadian company is targeting production of 2.6 to 3.2 million ounces.
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05/16/2024 – Morocco: Canadian Aya’s silver production drops by 23%
