The National Office of Hydrocarbons and Mining (ONHYM) and Canada-based partner focusing in international mining and mineral exploration with a unique opportunity to be a leader in Morocco’s emerging mining sector, announced the production of the first silver bullion in the Zgounder silver mine located in the Province of Taroudant.. The production dated back to last August is 234.5 kilograms from 20 bricks assay between 90% and 97% silver.
With favorable market conditions after more than two decades of standstill, the deposit in Zgounder was ceded by ONHYM and its collaborator in February 2012 as part of an international tender. A joint company has been created to develop the deposit. Since the takeover the joint company, the Canadian group has invested 193 million dirham stated by OHNYM.
It is said that the production is a significant achievement after the rehabilitation of the plan from September 2013. This is considered a significant accomplishment for the mining company involved and a direct result of the efforts of all stakeholders with the local support and assistance of relevant government departments.
The CEO of the mining company was grateful for the confidence showed and given to them by its shareholders, bankers and the lenders the mining company is also present in Errachidia side of Morocco. It operates the polymetallic deposit Boumadine mine that spans at 32 square kilometers.