Canadian corporation aquires 100% ownership of Moroccan silver mine

Canadian corporation, Aya Silver & Gold Inc deepened its collaboration with the Moroccan national office from hydrocarbons and mines (ONHYM) by increasing its ownership of the Zgounder silver mine to 100%.

The 67 million dirhams deal by Aya Silver & Gold Inc acquired all the interest that ONHYM had in the mine which is 15%, as stated in a press release.

Regardless, ONHYM will maintain a 3% royalty on the Zgounder property.

This significant collaboration will allow the Canadian-based corporation to explore Morocco even further and take more strategic initiatives in the minefield.

President and CEO of the corporation, Benoit La Salle said that “This deal is very accretive for all stakeholders and speaks to our strong relationship with ONHYM and the government of Morocco.”

He stated that this collaboration will generate value for all stakeholders on mining opportunities in the Kingdom of Morocco.

Back in February, Aya Inc acquired regulatory approval of the Environmental Impact Assessment (EIA) for the expansion of the Zgounder Silver Mine from the Moroccan Authorities.

The operations of Aya Silver and Gold are based in Morocco. It is a pure silver mining company that focuses on maximizing shareholder value by anchoring sustainability at the heart of its operations, governance, and financial growth plans.