Morocco’s Managem Group, owned by Al Mada, the royal family’s office under King Mohammed VI, Africa’s wealthiest monarch, has committed $750 million to increase its gold production by 134% across its mining operations in Africa by 2030.
Morocco’s Managem Group is investing $750 million to boost gold production by 134% in Africa by 2030, aiming for 500,000 ounces annually.
Managem operates in eight African countries, with flagship projects in Sudan, the DRC, Gabon, and Senegal, and is planning new developments in Gabon and Guinea.
Gold prices have reached historic highs, fueling Managem’s revenue, which is expected to surpass $2 billion within two years.
The company’s recent net profit surged 384% to $322 million in 2025, largely due to high gold prices.
This expansion aims to increase gold production from 213,000 ounces in 2025 to 500,000 ounces annually by 2030, following a remarkable 384% growth in net profit, which reached $322 million in 2025, driven by rising gold prices.King Mohammed VI, Africa’s wealthiest monarch with an estimated net worth of $5 billion, continues to shapeřn Morocco’s economic future through strategic investments like those in Managem.With a market valuation exceeding $10 billion, the company is establishing itself as a dominant force in Africa’s rapidly expanding mining sector.
CEO Imad El Tumi highlighted that gold production remains central to the company’s strategy as it seeks to further expand its footprint across the continent.
Operations Across Seven African Countries
Managem operates across seven African countries, with key projects such as the Gabgaba gold project in Sudan, the Pumpi copper-cobalt project in the Democratic Republic of Congo (DRC), the Etéké gold project in Gabon, and the Boto gold project in Senegal.The Pumpi project, located in the Lualaba province of DRC, covers 25.6 km² with 32 operating permits and is being developed in partnership with Chinese miner, Wanbao.In addition to these initiatives, the company is advancing gold mining projects in Morocco, Guinea, and Côte d’Ivoire, strengthening its position as a major player in Africa’s mining industry.
Gold Surge Fuels Profit GrowthIn 2025, Managem’s gold production rose 26%, capitalizing on a 44% increase in gold prices, which averaged $3,445 per ounce.Gold alone accounted for more than half of the company’s earnings, contributing to a 55% rise in revenue to $1.3 billion.Silver production also saw an 18% increase, with silver prices up 42%, reaching $40 per ounce.The royal company expects its revenue to exceed $2 billion within the next two years, driven by both higher production and sustained gold prices.
Strategic Expansion Across Africa
According to Morocco World News, Managem’s expansion includes two major gold projects in West Africa.The Etéké project in Gabon is slated to begin production in late 2028, with an estimated output of 60,000 ounces per year, backed by an investment of $150 million.Additionally, the Karita project in Guinea, currently in the feasibility stage, aims to produce 200,000 ounces annually starting in 2029, with an investment of $600 million.Alongside these, Managem is pursuing acquisitions in existing gold assets to accelerate production growth.Geopolitical Context and Market Outlook for GoldGlobal gold prices are currently favorable, with prices reaching $4,600 per ounce in early 2026.
As of April 3, 2026, gold spot prices are trading near $4,650 per ounce.While the metal reached historic highs exceeding $5,500 in late January 2026, the market recently experienced its sharpest monthly decline since 2008, driven by a stronger U.S. dollar and shifting expectations around interest rates.Despite recent fluctuations, JPMorgan forecasts that gold could rise to $6,300 per ounce by the end of 2026, supported by central bank buying and lower U.S. interest rates.Managem’s investments are aligned with these favorable conditions, positioning the company for further growth in a strong gold market
