Managem has moved to reassure investors that its business is in good health after its shares were suspended from the Casablanca Stock Exchange amid rumours about the mining group’s financial position. The company says nothing has happened to change its financial performance or outlook and has asked for its shares to resume trading on Tuesday, 3 November, when the market opens.
Trading was suspended on 30 October at Managem’s request, following a change to the composition of the MASI, the main index of the Casablanca Stock Exchange. The move came as unconfirmed information about the company’s shares began circulating among investors.
The index adjustment reduced Managem’s weighting in the benchmark, prompting funds that track the index to rebalance their portfolios. This led to heavy selling pressure on the shares and a sharp fall in their price, triggering a trading halt before the formal suspension.
The Casablanca Stock Exchange published details of the new MASI composition on 31 October.
In a statement issued on Monday, 2 November, Managem said no significant event that could affect its share price had occurred or been brought to its attention.
“The Group thus confirms that its financial situation, operational performance, business, and outlook remain solid,” the company said.
It added that its position had not changed since its previous communications with the market, particularly its half-year results.
Those results, published on 25 September, showed strong growth in the first six months of 2026.
Managem’s revenue reached 11.764bn dirhams, compared with 4.422bn dirhams during the same period last year. That represents a 166% increase.
Net profit attributable to the group climbed to 3.778bn dirhams, from 380m dirhams a year earlier, an increase of 894%.
The group’s gross operating surplus also rose to 6.197bn dirhams. Its operating margin improved by 20 percentage points to 53%, meaning the company generated more than 53 dirhams in gross operating surplus for every 100 dirhams of revenue.
Managem’s growth was supported by increased production at two major mining projects: the Tizert copper mine in Morocco and the Boto gold mine in Senegal. Both reached their nominal production capacity during the first half of 2026.
Favourable international prices for gold and copper also supported the group’s performance.
Managem has more than 90 years of experience in the mining industry and operates in seven African countries, including Morocco. Its activities cover gold, copper, cobalt, zinc and, more recently, natural gas.
The group employs around 5,000 people and operates across the mining value chain, from exploration to the sale of metals.
It is majority-owned by Al Mada, a pan-African private investment fund.
