The Société Métallurgique d’Imiter (SMI) has reported a remarkable revenue of 571 million dirhams (MDH) for the first half of 2024 (H1 2024), marking a 7% increase compared to the same period in 2023.
This growth is attributed mainly to a 13% appreciation in silver prices, enhanced production volumes, and a slight decrease in the USD/MAD exchange rate, according to a statement from the Managem subsidiary.
Investments during H1 2024 amounted to 91 MDH, primarily directed towards mining research and infrastructure, the report indicates. Additionally, net debt stood at -229 MDH, a reduction of 110 MDH from the end of 2023. This decrease is due to dividend distributions and an increase in working capital requirements, the statement adds.
SMI’s financial achievements underscore the company’s strategic investments and operational efficiency, positioning it strongly for continued growth in the mineral market.
