Casablanca-listed Managem, which operates in six African
countries, is controlled by the Morocco royal family holding
company Al Mada.
The company reported a profit up 88% to 1.615 billion
dirhams ($160 mln) last year on the back of higher sales of
precious metals.
(Reporting by Ahmed Eljechtimi
Editing by David Goodman)
RABAT, April 26 (Reuters) - Morocco's largest mining
company Managem has taken control of the Boto gold project in
Senegal under a deal worth $197 million, it said on Wednesday.
The deal is part of a transaction last year to buy the
assets of Canada's Iamgold , which also include mines in
Mali and Guinea, for a total of $282 million.
Managem said the Senegal mine would strenghten its position
in West Africa and its near-term gold production growth.
The company expects to close the acquisition of other gold
assets in Guinea and Mali in the third quarter, it said.
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