Aya Gold & Silver Inc to receive US $25M for Boumadine polymetallic mine
The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to US $25 million to Aya Gold & Silver Inc to finance the exploration of the Boumadine polymetallic mine located in Morocco’s Drâa-Tafilalet region.
Boumadine polymetallic mine
This mine is rapidly gaining strategic importance for Aya as it aims to diversify beyond its flagship Zgounder silver mine and scale up its production capabilities. The funding will support a comprehensive exploration programme including drilling, engineering work, mine planning updates, and the preparation of a preliminary economic assessment. These steps will help transition Boumadine toward large-scale development and potentially elevate it to world-class deposit status. The agreement also cements EBRD’s role as a future financing partner for the mine’s eventual construction phase.
Beyond exploration, the partnership will foster local workforce development by supporting vocational training and revising university curricula to align with modern mining sector demands. Aya will also participate in an EBRD-led initiative to promote women’s participation in Morocco’s mining industry.
The EBRD’s involvement includes advisory support to improve Aya’s value chain, focusing on energy efficiency, responsible resource use, and supplier decarbonisation. Mark Bowman, EBRD Vice President, emphasized the partnership’s role in advancing sustainable mining while supporting inclusive economic development in the Drâa-Tafilalet region. Morocco, a founding member of the EBRD, has received nearly €5.4 billion in investments across 119 projects, primarily targeting sustainable energy, private sector growth, and infrastructure development.
