Mining giant linked to Africa’s wealthiest king sees profit jump from $40 million to $395 million as 2 mines boost gold and copper output - Business Insider Africa

AI desk brief

Morocco’s Managem reported a first-half 2026 profit surge to 3.78 billion dirhams ($395 million) from 380 million dirhams a year earlier, with revenue more than doubling to 11.76 billion dirhams as higher metals prices and stronger output lifted earnings. The main drivers were the Tizert copper mine and the Boto gold mine, both of which reached full production capacity in H1; Boto is expected to produce about 160,000 oz/year in its first three years.

The company’s broader African footprint now spans Morocco, Senegal, Guinea, Sudan, Gabon, Côte d’Ivoire and the DRC, with a portfolio including gold, copper, silver, cobalt, zinc and lead. Management guided to a consolidation phase in H2 2026 as it stabilizes output from newly commissioned assets.