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Aya Gold & Silver secures $25 million loan for Morocco mining expansion
Aya Gold & Silver has secured final approval from the European Bank for Reconstruction and Development (EBRD) for a $25 million secured credit facility. This funding will be directed towards the development of the Boumadine polymetallic project, enhancing the company's financial flexibility as it pursues its expansion strategy in Morocco.
Benoit La Salle, CEO of Aya Gold & Silver, emphasized that this financial backing underscores the company's strong fundamentals and the renewed confidence of its partners. The EBRD, which has collaborated with Aya for a decade, praised the progress made at the Zgounder mine and acknowledged Boumadine’s potential, highlighting the company’s commitment to sustainable mining practices.
The loan, structured with a bullet repayment and a 5% interest margin, is set for a two-year term. The agreement remains contingent upon finalizing definitive contracts and meeting standard regulatory requirements.
In addition to the loan announcement, Aya Gold & Silver has reported significant strides at its Zgounder silver mine. As of April, the Canadian mining company has confirmed a remarkable increase in production, with silver output rising by 64% since the start of 2025. This surge reflects the company's ongoing operational enhancements and the exceptional performance of its processing plant.
Earlier in January, Aya Gold & Silver had indicated plans to invest an additional $50 million in Morocco in the coming years. Notably, Morocco produced approximately 8.8 million ounces of silver in 2023, securing its position as the 15th largest global producer of this precious metal and enhancing its visibility in the international silver market.
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