‘significant growth’

Impacted by Sudan war, Managem borrows more on declining sales

By Maher Hajbi

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Posted on August 28, 2023 08:15

jad20230824-eco-maroc-soudan-managem-1256×628-1692893338 © The plant at the Wadi Gabgaba mine in Sudan. Managem — The plant at the Wadi Gabgaba mine in Sudan. Managem

Weighed down by halted projects in war-hit Sudan and depressed prices for cobalt, zinc and copper, the Moroccan mining giant saw its midterm results plunge.

After recording sales of 9.6bn dirham ($952.7m) in 2022, a 30% year-on-year increase, Managem saw its financial results fall considerably in the first half of this year, which has pushed the Moroccan mining group to increase its borrowing.

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