Latest news with #AyaGold
Morocco World
13-05-2025
- Business
- Morocco World
Aya Gold & Silver Secures $25 Million EBRD Loan for Morocco Mining Expansion
Rabat — Aya Gold & Silver has received final approval from the European Bank for Reconstruction and Development (EBRD) for a $25 million secured credit facility. The Canadian company will use this funding to develop the Boumadine polymetallic project and strengthen its financial flexibility as part of its expansion strategy in Morocco. CEO Benoit La Salle said this financial support reflects its strong fundamentals and the renewed confidence of its partners. The EBRD, which has worked with Aya for ten years, commended the progress made at the Zgounder mine and recognized Boumadine's potential, pointing out the company's commitment to sustainable mining practices. The two-year loan is structured with a bullet repayment and a 5% interest margin. The deal remains subject to finalizing definitive agreements and meeting standard regulatory conditions. In its Zgounder silver mine in Morocco, the company is making significant progress in operating results. As of April, the Canadian mining company has confirmed the growing strength of its primary mining site, reporting significantly improved performance. Since the beginning of 2025, the company's silver production at the site has jumped 64%. This rate reflects the significant advancement in the company's performance. Aya Gold asserts ongoing operational improvements driven by steady activity at the site and exceptional performance from the processing plant. In January, the company announced it plans to invest an additional $50 million in Morocco over the coming years. Morocco produced roughly 8.8 million ounces of silver in 2023, ranking 15th globally as a producer of the precious metal and positioning itself as an increasingly visible player in the international silver market. Read also: Aya Gold Close to Lock $67.5 Million in Funding for Mining Operations Morocco Tags: Aya Gold and SilverMoroccosilver mining
Morocco World
12-05-2025
- Business
- Morocco World
Aya Gold & Silver Sees Strong Results at Morocco's Zgounder Silver Mine
Rabat — Aya Gold & Silver continues to build momentum at its Zgounder silver mine in Morocco. The Canadian mining company reported significantly improved operating results for April, confirming the growing strength of its primary mining site. Silver production at the Zgounder mine has jumped 64% since the beginning of the year, marking an important milestone in the company's performance. Aya Gold asserts ongoing operational improvements driven by steady activity at the site and exceptional performance from the processing plant. 'Our fundamentals are strong and results are meeting expectations: mining production has increased 64% since January,' the company's CEO and President Benoît La Salle said. 'We're already seeing improved recovery rates, and April's performance reinforces our confidence in our strategy to optimize ore processing and strengthen our cash generation.' Several strategic actions are currently underway to maximize production capacity at the site, with the company bringing in a specialized contractor to quickly restore full capacity to the oxygen production unit, a critical component for optimizing precious metal recovery rates. At the same time, the company has begun working directly with the equipment supplier to accelerate long-term improvements. The company's efforts are already showing results, as initial tests on the plant's residues confirm the technical parameters defined in the feasibility study, giving the company increased visibility on meeting its performance targets. Aya Gold remains confident that it could maintain this positive momentum and achieve its forecasts for 2025, especially as the company's April solid production represents a major step toward regular and sustainable industrial performance. Zgounder site is a strategic project that positions Morocco as an increasingly visible player in the international silver market. Read also: Canadian Aya Gold & Silver Triples Production, Plans $50 Million Morocco Investment Tags: maya silver and goldMoroccoSilver industry
