Canadian mining company Aya Gold & Silver has taken a decisive step towards expanding its operations in Morocco by securing a $25 million credit facility from the European Bank for Reconstruction and Development (EBRD). The financing, announced on Tuesday, will support the development of the Boumadine polymetallic project, located in the Moroccan Oriental region, while strengthening operations at the Zgounder silver mine, a key asset of the company.
The loan, which has a term of two years and an interest rate of 5%, is repayable in a single instalment, subject to the finalisation of agreements and compliance with regulatory requirements. This new injection of funds is part of an ambitious strategy aimed at optimising Aya Gold & Silver's financial capacity and accelerating the development of its projects in a strategic African mining region.
Benoit La Salle, CEO of Aya Gold & Silver, welcomed the renewed partnership with the EBRD, saying: "This financing demonstrates the robustness of our business model and our shared commitment to responsible mining. It will enable us to advance our projects while consolidating our position in the Moroccan mining sector."
The EBRD highlighted Aya Gold & Silver's outstanding performance, particularly at the Zgounder mine, where silver production has jumped 64 per cent since the beginning of 2025. This impressive growth reflects the company's ability to maximise the value of its assets while respecting high environmental and social standards.
The $25 million loan is in addition to a $50 million investment plan announced in January to support the company's mining operations across Morocco. These initiatives demonstrate Aya Gold & Silver's commitment to capitalising on the mining potential of the Kingdom, which has risen to become the 15th largest silver producer in the world by 2023, with production of 8.8 million ounces.
The EBRD's support for Aya Gold & Silver underlines Morocco's growing importance in the international mining landscape. Thanks to its abundant resources and favourable regulatory framework, the country continues to attract foreign investment, consolidating its position as a leading mining hub in Africa.
This financing marks a new stage in the growth trajectory of Aya Gold & Silver, which aims to become a leader in responsible mining while contributing to the economic development of Morocco.
