Moroccan sustainable mining receives support from the EBRD
Aya Gold & Silver Inc., a Canadian silver producer operating in Morocco, has received 25 million dollars from the European Bank for Reconstruction and Development (EBRD) in its third financial agreement to support operations at the Boumadine metal mine in the Draa-Tafilalet region of southern Morocco.
The bank said it is one of the most important mines in Morocco and North Africa. The producer added that it is one of the most significant polymetallic operations globally.
According to Benoit La Salle, president and CEO of Aya Gold & Silver Inc., this agreement promotes the ‘exceptional potential’ of the Boumadine mine and ‘highlights the EBRD's long-term financial commitment.’
The aid is intended to support various mining activities, engineering and the development of plans to help the mine and its economic management. It also aims to implement studies to facilitate access to employment for university students.
The company specified that ‘the loan would be used to advance exploration and mine planning and engineering at Boumadine’.
‘With this investment, we are also contributing to the economic development of the Draa-Tafilalet region, the creation of employment opportunities and the inclusion of young people and women,’ said Mark Bowman, vice president of the EBRD.
The financing also means, according to the bank, that Aya Gold & Silver Inc.'s production capacity will go beyond the Zgounder silver mine, as well as making Boumadine a world-class mine.
Morocco is a founding member of the EBRD and one of the countries where it has been operating since 2012. To date, it has contributed 5.4 billion euros to 119 Moroccan projects, most of which are private.
The importance of mining in Morocco
It is no coincidence that the EBRD is one of the first financial partners of the production company Aya Gold & Silver Inc. with the aim of promoting Moroccan mining. The North African country is a rising mining power because it has great mineral wealth.
The country has a long tradition in this sector, to the point where it is one of the most attractive places in Africa for the development of mining activities. In addition, Morocco has launched a sustainable mining plan for 2030 that emphasises energy efficiency and environmental impact.
In June 2025, the Canadian company Moroccan Strategic Minerals Corporation announced that there are lands rich in quartz, copper and gold in Ouarzazate. Since this discovery, the company has continued to explore the area with geophysical studies to determine the extent of the mineralisation and discover new mining targets.
Its strategic location between Africa and Europe, favoured by trade routes, also influences foreign companies' desire to invest and participate in the extraction of minerals in the Moroccan kingdom, such as zinc, copper, silver and cobalt, among others.
