Aya Gold & Silver Inc., based in Montreal, has reached a significant milestone with the commencement of commercial production at its expanded Zgounder silver mine in Morocco.
The company also announced plans to invest an additional $50 million in the country, highlighting its commitment to boosting silver production to meet increasing global demand, particularly in sectors like solar panels and medical applications.
The company’s new processing plant, which began construction in mid-2022, officially started processing ore on November 4, 2024. Just weeks later, on November 27, the first silver pour was achieved, and by December 29, commercial production was declared.
Over a thirty-day period ending December 29, the facility processed 45,683 tons of ore, operating at an average rate of 84 tons per hour with 75% availability, equating to a daily rate of 1,523 tons. This output represented 76% of the plant’s nameplate capacity, while maintaining a silver recovery rate of 79%. Performance continued to improve, with the plant processing an average of 1,834 tons per day between December 19 and 29, peaking at 2,152 tons on December 27.
This extension made Zgounder the second-largest silver mine in Morocco, behind the Imider mine operated by Managem, and increased the mine’s yearly production capacity to 8 million ounces.
Aya Gold & Silver has invested $250 million in Morocco since its operations began, and its future growth is bolstered by a strong financial foundation and over 600 full-time employees.
The company is the only TSX-listed pure silver mining company in Morocco and exports its production to smelters in the European Union.
With Morocco ranking 15th globally in silver production, Aya Gold & Silver aims to reach full capacity at Zgounder by the first quarter of 2025. Beyond Zgounder, the company is expanding its portfolio with exploration projects along the South-Atlas Fault and developing the Tijirit Gold Project in Mauritania, under its spinout company, Mx2 Mining.
