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The European Bank for Reconstruction and Development (EBRD) has announced a loan of up to $25 million to support the exploration programme at the Boumadine polymetallic mine in Morocco, operated by Aya Gold & Silver Inc. This initiative marks a strategic step to bolster sustainable mining and inclusive development in the Drâa-Tafilalet region of southern Morocco.
Boumadine is rapidly emerging as one of the most significant mining sites in Morocco and North Africa, vital for Aya’s efforts to diversify its portfolio beyond its established Zgounder silver mine. The funding will support critical exploration activities, including drilling, engineering, mine planning, and a preliminary economic assessment—laying the groundwork for large-scale development and potentially elevating Boumadine to world-class status.
🌱 Sustainability and Inclusion at the Core
Beyond infrastructure, the EBRD’s investment will also advance local capacity building, with a focus on youth and gender inclusion. Vocational training programmes and curriculum updates tailored to the mining sector will be delivered in collaboration with regional academic institutions. Aya will further support an EBRD-led campaign aimed at increasing women’s participation in Morocco’s mining industry.
In parallel, advisory services will be launched to enhance resource management, improve energy efficiency, and promote decarbonisation across Aya’s supply chain.
🤝 A Strong Partnership for Impact
“This marks our third partnership with Aya in Morocco,” said Mark Bowman, EBRD Vice President. “Together, we’re advancing the mining sector with a strong emphasis on sustainable practices, while supporting local economic development and promoting inclusion.”
🇲🇦 EBRD in Morocco
Morocco, a founding member of the EBRD, became a country of operation in 2012. Since then, the Bank has invested nearly €5.4 billion across 119 projects, with over 72% of investments directed toward the private sector. Key areas of focus include sustainable energy, enterprise development, infrastructure reform, and non-sovereign financing.
Extract from EBRD article authored by Nibal Zgheib
European-Bank-for-Reconstruction-and-Development-Headquarters-EBRD-London-United-Kingdom-Picture-by-EBRD-Dermot-Doorly
