Moroccan Royal Family’s Managem Group Pledges $750 Million to Scale Continental Gold Output

Morocco’s Managem Group, owned by the royal family, invests $750M to boost gold production by 134%, targeting 500,000 ounces annually by 2030.

By: AXL Media

Published: Apr 3, 2026, 3:49 PM EDT

Source: The information in this article was sourced from Business Insider Africa

A Royal Mandate for Mineral Expansion

Managem Group, controlled by the Moroccan royal family’s private holding company Al Mada, has announced a massive $750 million capital expenditure program designed to reshape the African gold mining landscape. The initiative seeks to catapult the company’s annual gold production from 213,000 ounces in 2025 to a target of 500,000 ounces by the end of the decade. This aggressive expansion follows a year of historic financial performance for the group, which saw its net profit soar by 384% to $322 million in 2025, a surge primarily fueled by the global rally in precious metal prices.

Strategic Assets Across the Continent

Under the leadership of King Mohammed VI—Africa’s wealthiest monarch with a net worth estimated at $5 billion—Managem has diversified its operations across seven additional African countries. Key projects currently driving this growth include the Gabgaba gold project in Sudan and the Boto gold project in Senegal. In the Democratic Republic of Congo (DRC), the group's Pumpi copper-cobalt project, developed in partnership with China’s Wanbao, covers a strategic 25.6 km² area. According to CEO Imad El Tumi, the company’s current roadmap prioritizes gold as the central pillar of its long-term revenue strategy.

Capitalizing on Record-High Market Prices

The timing of the $750 million investment aligns with a period of unprecedented strength in the gold market. In early 2026, spot gold prices reached levels near $4,650 per ounce, having peaked above $5,500 earlier in the year. Managem’s 2025 revenue rose 55% to $1.3 billion, with gold alone accounting for more than half of the company’s total earnings. The group also reported significant gains in silver production, which rose 18% as prices for the industrial metal hit $40 per ounce. Financial analysts expect the group's total revenue to surpass the $2 billion mark within the next 24 months if current price levels hold.