Scaling New Heights in Moroccan Mining
The Moroccan mining sector has reached a new milestone as the Zgounder silver mine, operated by the Canadian group Aya Gold & Silver, officially revised its 2026 production target upward. The company now expects to produce at least 5.6 million ounces of silver, a significant increase from its previous forecast of 5.2 million ounces. This adjustment underscores the rapid maturation and operational efficiency of the site, which officially solidified its position as the largest silver-producing mine in Africa throughout 2025.
The decision to raise the lower bound of the production guidance reflects a high level of confidence from management regarding the site's ongoing performance. Following the successful commissioning of a state-of-the-art processing plant in late 2024, Zgounder has consistently exceeded operational benchmarks. With 4.25 million ounces already produced in the first nine months of 2026, the mine is well-positioned to hit these ambitious targets, further cementing Morocco's status as a premier global destination for precious metal extraction.
Economic Impact and Strategic National Value
The success of the Zgounder mine is a testament to the favorable investment climate in Morocco and the strategic partnership between international operators and national institutions. The Office National des Hydrocarbures et des Mines (ONHYM) maintains a vital role in this ecosystem, benefiting from a 3% royalty on the mine's total revenue. As production volumes continue to climb, these contributions play an increasingly significant role in supporting the Moroccan national economy.
Market analysts are closely watching the financial outcomes, particularly as the mine benefits from a robust global silver market. In addition to record-breaking ore processing volumes, Aya Gold & Silver reported a 10% increase in sales volumes compared to the previous year, coupled with a 108% surge in the realized average price of silver. This economic momentum not only benefits shareholders but also enhances the socio-economic development of the region surrounding the mine, creating jobs and fostering local industrial growth.
As reported by agenceecofin.com.
