Canadian Miner Secures $100 Million to Quadruple Silver Production in Morocco

Aya Gold & Silver has big ambitions for the Zgounder silver mine (Anti-Atlas of Morocco), located 200 km south of Marrakech. In a press release, the company announced that it has finalized a loan financing agreement for $100 million, of which $92 million from the European Bank for Reconstruction and Development (EBRD) and $8 million from the Climate Investment Funds (CIF). This financing will allow it to increase production from 1,880,707 ounces in 2022 to approximately 8 million ounces per year by 2024.

In Morocco, Aya Gold & Silver’s mining portfolio includes the Zgounder silver mine, the polymetallic deposits of Boumadine, Amizmiz, Azegour and Imiter bis.