Managem made 3.78 billion dirhams ($378m) in profit during the first six months of 2026, compared with 380 million dirhams in the same period last year. The mining group said higher metal prices and stronger production from its copper and gold mines helped drive the increase.
Revenue reached 11.76 billion dirhams, up 166% from 4.42 billion dirhams in the first half of 2025.
The company also recorded a sharp rise in EBITDA, which reached 6.19 billion dirhams, compared with 1.44 billion dirhams a year earlier. The operating margin rose to 53%, from 33%.
The main drivers were the Tizert copper mine in southern Morocco and the Boto gold mine in Senegal. Both projects reached full operating capacity during the first half of the year.
The results mark a major change in the scale of Managem’s operations. The company has spent several years investing in new mines and expanding its business across Africa.
Tizert is increasing copper production in Morocco, while Boto is strengthening Managem’s position in Senegal and the wider West African gold sector. Copper is also an important metal for energy and industrial projects, while gold remains a major source of demand in global markets.
Higher metal prices added to the effect of the increased production.
Some operations performed less well. Silver production at the Imiter mine in Morocco fell, while gold production at the Tri-K mine in Guinea also declined.
These weaker results were offset by stronger production from Tizert and Boto.
Managem operates in seven African countries and has activities in gold, copper, silver, cobalt and zinc.
The company now expects the second half of 2026 to focus on maintaining its stronger performance as the new mines operate at full capacity.
