Hommam Al Nassim 
The Moroccan Mining Company announced a 13% decline in its revenues during the first quarter of this year, as it recorded revenues worth 1.935 billion Moroccan dirhams (equivalent to $194 million).
The company attributed this decline to its decision to reduce cobalt production at the Bouzar mine located in the Atlas Mountains, which was taken in light of the decline in global cobalt prices.
The Bouzar mine is considered an important source of cobalt, which is mainly used in the manufacture of electric car batteries, as the company supplies this metal to the German factories of BMW.
In a related development, Managem plans to start supplying Renault with cobalt by 2025, as part of its strategy to enhance cooperation with major global automobile manufacturers.
Managem, established in 1930 and listed on the Casablanca Stock Exchange since 2000, specializes in the production of minerals such as cobalt, zinc, lead, copper, and gold. The company is 75% owned by the ONA Group. Managem is also active in the hydro-metallurgical industry sector and has several mining projects and sites both within Morocco and internationally.
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