FINANCIAL MARKET HEADLINES
| MOROCCO | MANAGEM | Revenue up 14% in Q1 2021
In Q1 2021, Managem's revenue increased by 14% to MAD 1,256 Mn. This growth is explained by :
- The significant increase in average selling prices of all metals produced by the Group ;
- The increase in the production of Cobalt from the Bou-Azzer mine and the consolidation of Copper and Zinc productions ;
- The sale of Copper cathodes attributed to Managem from the Pumpi mine in the Democratic Republic of Congo.
However, these positive effects were mitigated by the decline in production of Silver and Gold due to cyclical operational disrup-tions.
| MOROCCO | SMI | Revenue down 34% in Q1 2021
In Q1 2021, SMI's revenue decreased by 34% to MAD 118 Mn. This results from the 36% drop in production offset by the 14% in-crease in the selling price of Silver.
ECONOMIC HEADLINES
| WAEMU | INFLATION | Prices up 2.5% y-o-y in March 2021
According to the Central Bank of West African States, the inflation rate in WAEMU member countries stood at 2.5% in March 2021, year-on-year. This mainly results from the increase in the prices of the “Food and non-alcoholic beverages” (+1.7%), “Clothing” (+0.1%), as well as of the “Health” services (+0.1%).
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