Morocco’s Managem increases stake in Guinea’s Tri-K gold project to 85%
RABAT – Morocco’s leading mining firm Managem said on Tuesday it increased its stake in the Tri-K gold project in eastern Guinea Conakry to 85% after acquiring a 30% stake held by its partner Avocet Mining for $21-million.
The acquisition is in line with the group’s strategy to boost its gold production in the continent and strengthen its footprint in the Republic of Guinea, Managem said in a statement.
The remaining 15% stake in the joint venture running the gold project, the Societe Miniere de Mandiana (SMM), is held by Guinean state mining company, SOGUIPAMI.
Tri-K, with more than 1 million ounces of gold reserves, will enable Managem to produce 3.5 t/y of gold, the company said.
Managem, which has announced investments in Tri-K worth $176-million, plans to launch production at the 490 km2 project by 2020 with annual production expected at 120 000 oz of gold.
Managem, which is controlled by the Moroccan royal family’s holding company Almada, produces gold, silver, cobalt and copper.
The company operates in the Democratic Republic of the Congo, Ethiopia, Gabon, Guinea Conackry, Ivory Coast, Mali, Morocco and Sudan.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation