Management completes the sale of Oumejrane Mining Company

Managem Group announced on Wednesday, January 8, 2025, the completion of the sale of Compagnie Minière d’Oumejrane for the benefit of Purple Hedge Resources Morocco, a private company based in Morocco and a wholly owned subsidiary of Purple Hedge DWC, an established private company in the United Arab Emirates.

This operation, carried out for 30 million dollars (approximately 300 million DH), is accompanied by two conditional surcharges totaling more than 2 million dollars, payable after a period of 12 months.

Purple Hedge DWC is led by experienced management in the African mining sector, whose aim is to create a significant player in copper production in Morocco and Africa. For its development, the company benefits from both the financial support of a private investor specializing in the African continent and financing from a leading New York-based investment fund known for its expertise in metals and minerals crucial to the energy transition meaning are. Following this transaction, the company announces that it is committed “To protect the interests of the employees of Compagnie Minière d’Oumejrane and to ensure the continuity of mining activities in compliance with the high standards set by Managem.”