Managem finalises the sale of Oumejrane for 30 million dollars

The Moroccan group Managem, a major player in the African mining sector, has announced the completion of the sale of Société minière d'Oumejrane to Purple Hedge Resources Morocco, the Moroccan subsidiary of the private Emirati company Purple Hedge DWC.

The transaction, valued at $30 million (MAD 301 million), also includes an additional contingent payment of $2 million (MAD 30 million), due in 12 months' time. This transaction marks a key milestone for Managem, which intends to focus its efforts on other strategic projects in Africa.

The Oumejrane mine, located in the Draa-Tafilalt region in the heart of the eastern Anti-Atlas, is known for its copper-silver and barite deposits, which are mainly mined on a small scale. In selling this entity, Managem has chosen a buyer with the financial resources and expertise needed to ensure the development of this strategic mine.

In a press release, Imad Toumi, Chairman and CEO of Managem, said he was confident about the future of the mine under the management of Purple Hedge DWC:
"The finalisation of this sale marks an important milestone, with the selection of a solid buyer capable of financing both the acquisition and the development of the Oumejrane mine."

Toumi also stressed the importance of maintaining high standards of health, safety and environmental protection, a commitment echoed by Purple Hedge.

Based in the United Arab Emirates, Purple Hedge DWC is positioning itself as a future leader in copper mining in Morocco and on the African continent. Backed by investors specialising in metals essential to the energy transition, the company combines equity financing focused on Africa with backing from a New York-based investment fund.

The company is committed to safeguarding the interests of Oumejrane's employees and ensuring the continuity of operations in accordance with Managem's established standards.

The sale of Oumejrane is part of Managem's strategy to focus on larger-scale exploration projects on the continent. In December 2024, the Group announced the full acquisition of the Karita gold project in Guinea from the Canadian company IAMGOLD, thereby strengthening its presence in West African gold mining.

Founded in 1928, Managem operates in eight African countries, with expertise in precious metals (gold, silver), base metals (copper, zinc) and strategic metals (cobalt). This geographical and sectoral diversification enables the group to strengthen its resilience in the face of market fluctuations and to align itself with the growing needs of the global energy transition.

By choosing Purple Hedge DWC as buyer, Managem is opening a new chapter for the Oumejrane mine, while freeing up resources to develop its ambitions elsewhere in Africa. With global demand for essential metals constantly evolving, this strategy could position Managem as a key player in the African and global mining landscape.