Moroccan silver mining company Société Métallurgique d’Imiter (SMI) had a strong 2025, thanks to higher silver prices and selling more metal.
At a board meeting on 24 March, chaired by Imad Toumi, SMI said its revenue rose 49 percent to 1.57 billion dirhams. Operating profit more than doubled to 615 million dirhams, and gross profit reached 864 million dirhams, giving an operating margin of 55 percent, up from 43 percent the year before.
Net income hit 397 million dirhams, even though the company lost 14 million dirhams on currency changes between the dollar and the dirham.
SMI also announced plans to grow its Imiter mine. A new open-pit project, Imiter Centre, will work old deposits, while the Igoudrane site will become a new underground operation, targeting about 2,000 tonnes of silver in the next few years. These moves aim to increase production and make the most of strong silver demand.
The board plans to propose a dividend of 150 dirhams per share for 2025.
SMI is part of the Managem Group and operates in the eastern Anti-Atlas near Tinghir. The area has some of the world’s richest silver deposits, and demand for silver in solar panels and electric cars is helping the company grow.
