Silver Mining in Morocco

Silver Mining: Record year for Canadian Aya Gold & Silver miner in Morocco

With a 29% increase in its annual production to 1.2 million ounces of silver, the operator of the Zgounder mine (in the Agadir region), the company listed on the Toronto stock exchange has unveiled results at the end of September 2021 most positive.

Zgounder Silver Mine, in Agadir Region.

Also, Aya Gold & Silver, whose only mine in operation to date is that of Zgounder, achieved in respect of the first nine months of the past financial year a turnover of more than 26 million Canadian dollars (192 million dirhams), i.e. more than five times the sales for the same period of the previous year.

A performance that enabled Morocco’s second largest silver producer after the Managem group to generate operating income of 5.5 million Canadian dollars and net income of 2.4 million Canadian dollars (respectively 40 million dirhams and 17.5 million dirhams), its best achievement since the start of production at the Zgounder mine in early 2014.

It should be remembered that the exploitation of the Zgounder mine began in 1982 until its closure in 1992 following the fall in silver prices. Approximately 500,000 tonnes of ore were processed during this period at an average grade of 330 g/t silver.

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