After officially launching commercial production at the Zgounder mine, located in the Moroccan Anti-Atlas, Aya Gold & Silver marks a new milestone by announcing an investment plan of more than $50 million for the years to come, according to its CEO, Benoit La Salle. The move comes less than two months after the start of operations at its state-of-the-art factory, built as part of an expansion project launching in mid-2022.
Rising production and new ambitions
Zgounder’s expansion allows Aya Gold & Silver to triple its annual production, now reaching eight million ounces of silver per year. With this growth, the site becomes the second largest silver mine in Morocco, behind Imider, operated by the Managem group. The company does not intend to stop there. Since its establishment, the group has already injected 250 million dollars into the country.
“With more than 600 full-time employees, a fully funded expanded operation and a strong capital base, Aya is well positioned to support growth while setting a new standard for innovative ESG financing in the global mining industry,” he said. declared Benoit La Salle.
A company anchored in the Moroccan market
The only foreign private company with a silver mine in Morocco, Aya Gold & Silver exports all of its production to European refineries. Over the first nine months of 2024, it generated 30 million dollars in turnover, for a net profit of 4 million.
Morocco, which ranked 15th in the world as a silver producer in 2023 with 8.8 million ounces extracted, is thus seeing one of its strategic sites gain momentum. Aya’s objective is to reach its full nominal capacity by the first quarter of 2025, with a sustained production rate.
-Growth prospects beyond Zgounder
Beyond the silver mine, Aya Gold & Silver continues to explore new opportunities in Morocco, particularly along the South Atlas Fault, a strategic mining corridor.
At the same time, the company is developing the Tijirit gold project in Mauritania, via its dedicated subsidiary, Mx2 Mining. By combining expansion and innovation, Aya Gold & Silver intends to position itself as a key player in the mining sector in North Africa.
Faiza Rhoul
