MANAGEM SA

MANAGEM SA

Previous company name

Name change date

Company Overview
Managem – Groupe Minier De L’ Ona is a Morocco – based publicly quoted company engaged in the metal mining activities. The company was incorporated in 1930, and has its registered office primarily located in Casablanca, Morocco. The company’s shares were listed on the Casablanca Stock Exchange market with a ticker symbol “MNG”.
Managem has accumulated an international experience in mining development through the exploitation of deposits in Morocco, Africa. Its principal activity (representing more than 80 % of its sales turnover) comprises the production of extract, concentrate and market base metals (copper, zinc and lead), noble metals (gold and silver), special metals (cobalt) and useful substances (fluorite). In 1999, the company has acquired a 34% of the capital of the Canadian firm – Semafo, which established the Managem group in West Africa with 22 mining licenses in Burkina Faso, Guinea and the Ivory Coast and two goldfields in Guinea and Ghana. In 2000, Managem took control of Semafo by increasing its share to 51 percent. In 2001, Semafo obtained the mining license related to the Jean et Goblй goldfield in Guinea.
Managem is the first mining firm of the Ona Group, an industrial and financial conglomerate active in the sectors of banking, insurance, fishing industry, food industry, retailing, tourism, information technology, and mining.
Business Summary
The Company is the Mining Group of the ONA. Including six development companies in the mine and hydrometallurgy in Morocco, a holding company for mining in West Africa and two service companies, the Company’s principal activity (representing more than 80 % of its sales turnover) consists to extract, concentrate and market base metals (copper, zinc and lead), noble metals (gold and silver), special metals (cobalt) and useful substances (fluorite).
Description and history
The Company is one of the first activities of the ONA Group which integrated this industry since 1928. The mining group MANAGEM owns six Morocco-based companies operating in the mining and hydrometallurgical sector, a mining holding in West Africa and two service companies. Managem has accumulated an international experience in mining development through the exploitation of deposits in Morocco, Africa and by the diversification, later on, of its competences in the hydrometallurgical business. Between 1928 and 1999, Managem set up business in different mining sites in Morocco, developed its competences across the mine categories and integrated another category :hydrometallurgy
In 1928, a shepherd discovered in Bouazzer unusual stones with a mysterious raticide power. After identification of these stones by a French naturalist as being cobalt oxide ore, the Bouazzer Mine started working. From 1963 onwards, it has been run by the CTT company, a subsidiary of Managem specializing in producing and upgrading cobalt.
Subsequently, Managem acquired other sites in Morocco. The Imiter Mine run by SMI produces metallic silver ingots, while El Hammam Mine, operated by SAMINE, is specializing in producing fluorite. Finally, the Guemassa Mine, operated by CMG, produces concentrates of zinc, copper and lead and ultimately zinc oxide since 2002.
In 1985, Managem founded the service company REMINEX, a powerful development tool with a multidisciplinary expertise in engineering, prospecting and mining. The start-up of the Guemassa Mine in 1992 was a crucial turning point in the operating phase of the mining wealth.
The same year, Managem founded TECHSUB, a subsidiary specializing in boring and underground works. With its sophisticated technical equipment, TECHSUB puts its expertise at the disposal of the group’s subsidiaries, while at the same time extending the scope of its activity outside the perimeter of Managem. Operative since 2001, AKKA GOLD MINING mines metallic gold from the Iourin goldfield purchased by Managem in 1996 and starts production after an intensive research program. The same year, the boom of the mining industry coincides with the launching of the hydrometallurgical business. Being responsive to the market evolutions and to the new needs of its customers, Managem managed throughout its history to adopt a self-evaluation policy and to push ahead by investing in value-generating projects The formation of teams devoted to research & development together with the launching of the hydrometallurgical activity in Morocco are living examples of the challenges taken in recent years. Since 1999, Managem has acquired a remarkable international standing.
By acquiring 34% of the capital of the Canadian firm SEMAFO in 1999, Managem inaugurated its international expansion and asserted its position as a gold producer. Through association with SEMAFO which is well established in West Africa with 22 mining licenses in Burkina Faso, Guinea and the Ivory Coast and two goldfields in Guinea and Ghana, Managem exports thus its know-how to the neighboring countries, mainly in the gold sector. Such an international openness is another opportunity for the group to find new projects and carry on its development process. In 2000, Managem took control of SEMAFO by increasing its share in this company to 51%. A year later, SEMAFO obtained the mining license related to the Jean et Goblй goldfield in Guinea.


Description in French
La Societe est une filiale du GROUP ONA. Le groupe minier MANAGEM, compte six sociйtйs d’exploitation dans la mine et l’hydromйtallurgie au Maroc, une sociйtй holding pour l’exploitation miniиre en Afrique de l’Ouest et deux sociйtйs de service. Managem a acquis une expertise internationale dans le dйveloppement minier, en exploitant des gisements au Maroc, puis en Afrique, puis en diversifiant ses compйtences dans l’hydromйtallurgie.
Sa principale activitй (reprйsentant plus de 80 % de son chiffre d’affaires) consiste а extraire, concentrer et commercialiser des mйtaux de base (cuivre, zinc et plomb), des mйtaux prйcieux (or et argent), des mйtaux spйciaux (cobalt) et des substances utiles (fluorine).
De 1928 а 1999, MANAGEM s’implante sur diffйrents sites d’exploitation au Maroc, dйveloppe ses compйtences autour des mйtiers de la mine et s’engage dans un nouveau mйtier: hydromйtallurgie.
En 1928, un berger dйcouvre а Bouazzer des pierres inconnues, au pouvoir raticide йtrange. Aprиs identification de ces pierres par un naturaliste franзais comme йtant un minerai de cobalt oxydй, la mine de Bouazzer entre en activitй. A partir de 1963, elle est gйrйe par la sociйtй CTT, filiale de MANAGEM et spйcialisйe dans la production et la valorisation du cobalt.
Par la suite, MANAGEM acquiert d’autres exploitations au Maroc. La mine d’Imiter, gйrйe par SMI, produit des lingots d’argent mйtal. Celle d’El Hammam, exploitйe par SAMINE, est spйcialisйe dans la production de fluorine. Enfin, la mine de Guemassa, exploitйe par CMG, produit des concentrйs de zinc, de cuivre et de plomb et depuis 2002 de l’oxyde de zinc.
En 1985, MANAGEM crйe la sociйtй de services REMINEX, un puissant outil de dйveloppement, dotй d’expertises pluridisciplinaires dans les domaines de l’ingйnierie, de la recherche et de l’exploitation.
Le dйmarrage de la mine de Guemassa, en 1992, marque un tournant dйcisif dans la phase d’exploitation des richesses miniиres.
La mкme annйe, MANAGEM constitue TECHSUB, filiale spйcialisйe dans les sondages et les travaux souterrains. Disposant de moyens techniques йvoluйs, TECHSUB met son expertise au service des filiales du groupe, mais offre aussi une gamme de services йtendue en dehors du pйrimиtre de MANAGEM.
Opйrationnelle depuis 2001, AKKA GOLD MINING extrait de l’or mйtal du gisement aurifиre d’Iourin. Ce gisement est achetй en 1996 par MANAGEM et mis en production aprиs un programme de recherche intense. Cette mкme annйe, l’essor des activitйs miniиres coпncide avec le lancement de l’activitй d’hydromйtallurgie.A l’йcoute des йvolutions du marchй et des nouvelles demandes de ses clients, MANAGEM sait, au fil de son histoire, se remettre en question, aller de l’avant et investir dans des projets crйateurs de valeur… La mise en place d’йquipes dйdiйes а la recherche-dйveloppement, ainsi que le dйmarrage des activitйs d’hydromйtallurgie au Maroc, sont autant d’exemples concrets de dйfis relevйs ces derniиres annйes.
Depuis 1999, prйsence de MANAGEM а l’international. En acquйrant 34% du capital de l’opйrateur canadien SEMAFO en 1999, MANAGEM a vйritablement entamй l’extension de ses activitйs а l’international et affirmй son rфle de producteur d’or. En s’associant а SEMAFO, bien implantй en Afrique de l’Ouest avec 22 permis miniers au Burkina Faso, en Guinйe, en Cфte d’Ivoire et deux gisements d’or en Guinйe et au Ghana, MANAGEM exporte ainsi son savoir-faire dans les pays voisins, notamment sur le secteur aurifиre. Cette ouverture а l’international permet йgalement au groupe de trouver de nouveaux projets pour accompagner son dйveloppement.
En 2000, MANAGEM a pris le contrфle de SEMAFO, en portant sa participation dans cette sociйtй а 51 %. Un an plus tard, SEMAFO a obtenu le permis d’exploitation du gisement aurifиre Jean et Gobelй en Guinйe.
Business Line
Engaged in the metal mining activities
Subsidiary
AKKA GOLD MINING SA
Advisor
DELOITTE AUDIT
IPO date
7/11/2000
US SIC Code
1081
Company Address
191 . TWIN CENTER. TOUR A. ANGLE BDS ZERKTOUNI

City province or state postal code
16016, 16016 CASABLANCA
Phone: +212 05 22 95 65 65
Fax: +212 05 22 95 64 97
Country address: MOROCCO
Website url: www.managem-ona.com