The Moroccan mining group Managem has officially announced the sale of the Compagnie Minière d’Oumejrane to Purple Hedge Resources Morocco. This private Moroccan company is wholly owned by Purple Hedge DWC, based in the United Arab Emirates. The transaction, valued at $30 million, also includes two conditional additional payments exceeding $2 million, payable within 12 months.
A fresh start for the Oumejrane Mine
This sale marks a significant turning point for the Oumejrane mine, which now has a new operator with expertise and bold ambitions. Purple Hedge DWC, led by a team seasoned in African mining, aims to transform the mine into a major copper production hub in Morocco and across the African continent.
Backed by two strategic financial partners—a private investor specializing in African markets and a leading New York-based investment fund—Purple Hedge DWC plans to fast-track the mine’s development to meet the growing global demand for metals essential to the energy transition.
Ensuring continuity and upholding high standards
Purple Hedge DWC has committed to retaining the workforce at the Compagnie Minière d’Oumejrane and ensuring operational continuity. The company also pledged to uphold the stringent health, safety, and environmental standards established by Managem.
Imad Toumi, CEO of Managem, expressed his satisfaction with the agreement: “The completion of this sale marks a crucial milestone with the selection of a strong buyer capable of financing both the acquisition and the development of the Oumejrane mine. We trust Purple Hedge DWC, supported by its investors, to maintain the high standards of health, safety, and environmental protection that have always been our priority.”
Looking to the future
This transaction aligns with Managem’s strategy to optimize its portfolio while ensuring that successors have the resources to sustain and grow existing projects. For Purple Hedge DWC, the acquisition is a strategic opportunity to expand its footprint in the Moroccan and African mining sectors, with a focus on sustainability and the energy transition.
