Aya Gold & Silver Secures EBRD Loan for Morocco Exploration Project

Canadian mining firm Aya Gold & Silver Inc. has secured a $25 million loan from the European Bank for Reconstruction and Development Bank (EBRD) to fund its exploration program at Boumadine Polymetallic Mine in Morocco.

The loan will fund drilling, engineering work, mine plan updates and preparation of a preliminary economic assessment. The project falls under Aya Gold & Silver’s strategy to diversify its asset base and scale up production beyond its flagship Zgounder silver mine.

Aya Gold & Silver will also launch vocational training programs, support EBRD-led initiatives focused on empowering women and youth, and introduce energy efficiency and decarbonization advisory services for partners throughout its supply chain.

“Through this investment we are also contributing to the economic development of the Drâa-Tafilalet region, the creation of job opportunities and the inclusion of youth and women,” stated Mark Bowman, Vice President, EBRD.

The loan marks the third collaboration between EBRD and Aya Gold & Silver to drive Morocco’s mining sector growth.