Akka Gold-Mine Gets $ 30 Million EIB Investment
Morocco, Business, 12/21/2000
The European investment bank (EIB) extends the Moroccan mining firm "MANAGEM" a $ 30 million loan for the exploitation of the Akka gold-mine in the Moroccan Atlas mountains.
According to the Akka Gold Mining branch of MANAGEM specializing in gold-ingot production, the investment will go to drilling, engineering and extraction of the underground mine covering mineral processing and other infrastructure.
The financing under Euro-Mediterranean partnership benefits from contribution of the banking private sector which provide commercial guarantee for the EIB loan.
The new investment will give the firm capacity to process 1500 tons of raw mineral a day with a yearly output of 3 tons of gold.
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