Managem has finalized the sale of the Oumejrane Mining Company to Purple Hedge Resources Morocco, a subsidiary of an international mining player. This transaction, worth $30 million with two earnouts totaling more than $2 million, reflects the group’s commitment to ensuring continuity of excellence while consolidating its vision of sustainable mining development. .
The Managem Group, a historic player in the mining sector on the continent, has finalized the sale of the Oumejrane Mining Company to Purple Hedge Resources Morocco, a 100% subsidiary of Purple Hedge DWC, a private company based in the United Arab Emirates. This transaction, concluded for an initial amount of $30 million, marks a new stage in the group’s strategy, while opening new perspectives for the future of the Oumejrane mine.
A carefully managed transition
The sale, accompanied by two conditional price supplements of more than $2 million, payable after 12 months, reflects Managem’s desire to guarantee continuity and optimal valorization of the mine. Purple Hedge DWC, led by an experienced team in the African mining sector, is committed to maintaining the high standards established by Managem, particularly in terms of health, safety and respect for the environment, as well as protection of the interests of mine employees.
For Purple Hedge DWC, this acquisition represents a strategic opportunity. With the financial support of a private investor specializing in development in Africa and a fund based in New York, recognized for its expertise in metals linked to the energy transition, the company aims to become a key player in the production of copper in Morocco and on the African continent.
A strategy aligned with Managem’s priorities
Imad Toumi, Chairman and CEO of Managem, welcomed this transaction, emphasizing the solidity of the new buyer and its ability to sustainably develop the Oumejrane mine.
“The finalization of this sale marks a decisive step, with the choice of a solid buyer, capable of financing both the acquisition and the development of the mine. We are confident that Purple Hedge DWC, with the support of its investors, will maintain the standards of excellence in health, safety, protection and the environment, which have always been at the heart of our priorities. he is delighted.
As a reminder, Managem, for more than 90 years, has worked for the sustainable development of its mining activities. By focusing on metals essential to the energy transition and respecting rigorous standards in governance, social and environmental practices, the group reaffirms its role as a pan-African leader in responsible mining.
With a presence in seven African countries and a balanced portfolio between gold and energy transition metals, the group continues to play a central role in the continent’s energy future. Majority owned by Al Mada, a pan-African investment fund committed to generating “positive impact”.
Sanae Raqui / ECO Inspirations
