Home > Economy > Moroccan Firm Marita Group to Explore Chad’s Untapped Gold Reserves in Tibesti
Moroccan Firm Marita Group to Explore Chad’s Untapped Gold Reserves in Tibesti
Wednesday 10 March 2021, by
Operating in the field of urban development and real estate, the Moroccan group Marita Holding wants to invest in mining. One of its subsidiaries has signed a partnership agreement with the National Mining and Geological Society of Chad (Sonamig) for the exploitation of its gold reserve.
Marita Group Holding wants to develop more mining projects, including Chadian gold, which has been exploited so far on an artisanal scale, reports Challenge. These reserves are located in the north of the country in a mountainous region, known as Tibesti. Since their discovery in 2012, gold panners have stormed this desert region, armed with homemade detectors to explore this mine that is teeming with 24-carat gold fragments.
This signing of the memorandum of understanding with the Chadian state-owned company Sonamig will allow the Moroccan group to carry out exploration, exploitation and marketing operations of ores in this part of Central Africa.
Due to its dependence on its oil deposit, Chad has abandoned gold, its second mineral resource reserve. Now plunged into an unprecedented economic crisis following the collapse of the oil barrel price, it has resolutely turned to its large gold reserves.