Casablanca – The Managem Group, a prominent player in Africa’s mining sector and a subsidiary of the royal holding Al Mada, has significantly bolstered its presence in Guinea with a series of strategic moves aimed at consolidating its position as a leader in West Africa’s gold mining industry.

Acquisition of the Karita gold project

Managem recently finalized the acquisition of the Karita gold exploration project from the Canadian company IAMGOLD. This move underscores the group’s commitment to strengthening its foothold in Guinea, a country renowned for its rich mineral resources and strategic importance in West African gold production. The Karita project is complemented by two additional exploration permits, Doumou and Diagana, located nearby, which offer promising development potential for the group.

Tri-K project: A flagship asset

Managem’s commitment to Guinea extends further with its acquisition of the remaining 30% stake in the Tri-K gold project from Avocet Mining. This $21 million transaction brings Managem’s ownership to 85% of the Mandiana mining companies, which hold the operating license for the project, with the remaining 15% retained by the Guinean company Soguipami.

The Tri-K project, located 90 km northeast of Guinea, spans an exploration area of 490 square kilometers and holds estimated reserves of 1.1 million ounces of gold. With an investment cost of $176 million, the project has the potential to produce 3.5 tons of gold annually, further solidifying Managem’s position in the region.

A history of growth in Guinea and west Africa

Managem’s involvement in the Tri-K project dates back to 2016, when it acquired a 40% stake in partnership with Avocet Mining. This was increased to 70% in 2018 before achieving its current majority ownership. The group’s consistent investments highlight its long-term strategy to deepen its presence in Guinea and beyond.

Earlier in 2023, Managem also acquired IAMGOLD’s stakes in Senegal, including a 90% share in the Boto gold project and full ownership of exploration rights in the country. These acquisitions align with the group’s vision to expand its portfolio across West Africa.

Commitment to sustainable development

Managem has consistently emphasized its dedication to responsible mining practices. Across all its operations, the group adheres to international standards for environmental protection, social responsibility, and governance. With a workforce of 5,000 employees operating in seven African countries, including Morocco, Managem remains focused on sustainable development and its goal of achieving zero incidents and accidents.

A strategic vision for the future

Managem’s investments in Guinea are part of a broader strategy to establish itself as a leading mining group in Africa. The support of its parent company, Al Mada, a pan-African investment fund committed to “Positive Impact,” reinforces this vision. By combining innovative exploration and operational excellence, Managem is poised to play a pivotal role in shaping the future of the continent’s mining industry.

Through its expanding portfolio and commitment to sustainable practices, Managem is not only contributing to the economic development of Guinea but also cementing its legacy as a cornerstone of Africa’s resource-driven growth.