Live Managem share price on the Bourse de Casablanca. MNG is the Moroccan mining group operating cobalt, copper, gold, silver, zinc, and fluorite assets across Morocco, Sudan, the DRC, Gabon, and Guinea. Controlled by the Al Mada group, the stock provides direct listed exposure to the Moroccan portion of the global energy-transition metals story.
Cours de l'action Managem en direct. MNG est le groupe minier marocain opérant des actifs en cobalt, cuivre, or, argent, zinc et fluorine au Maroc, au Soudan, en RDC, au Gabon et en Guinée. Filiale du groupe Al Mada, l'action offre une exposition directe au volet marocain des métaux de la transition énergétique.
Managem est le groupe minier du holding Al Mada (anciennement SNI), filiale historique spécialisée dans l'extraction et la valorisation de métaux précieux et de métaux de base. Le groupe opère plusieurs sites au Maroc — notamment Bouazzer (cobalt), Imiter (argent), Akka (cuivre/or) — et a étendu son empreinte vers l'Afrique subsaharienne avec des opérations en République Démocratique du Congo (cuivre/cobalt), au Soudan (or), au Gabon, en Guinée et au Burkina Faso. Le portefeuille couvre le cobalt, le cuivre, l'or, l'argent, le zinc, le plomb et la fluorine.
Managem is the mining arm of Al Mada (formerly SNI), the holding's historical subsidiary specialised in extracting and refining precious and base metals. The group operates several Moroccan sites — notably Bouazzer (cobalt), Imiter (silver), Akka (copper-gold) — and has expanded into sub-Saharan Africa with operations in the Democratic Republic of Congo (copper-cobalt), Sudan (gold), Gabon, Guinea, and Burkina Faso. The portfolio spans cobalt, copper, gold, silver, zinc, lead, and fluorite.
Le revenu de Managem dépend principalement des prix internationaux des métaux qu'il extrait, fixés sur le London Metal Exchange (cuivre, zinc, plomb), le COMEX (or, argent) et la London Bullion Market Association (or). Le cobalt suit les contrats de Glencore et de Trafigura ainsi que les indices industriels chinois. Le cours de MNG à Casablanca incorpore donc, presque en temps réel, les mouvements globaux de ces prix, multipliés par le taux USD/MAD.
Managem's revenue depends primarily on international prices for the metals it extracts, set on the London Metal Exchange (copper, zinc, lead), COMEX (gold, silver), and the London Bullion Market Association (gold). Cobalt tracks Glencore and Trafigura contracts and Chinese industrial indices. MNG's Casablanca price therefore incorporates, almost in real time, global moves in those prices multiplied by USD/MAD.
Managem couvre une partie de sa production future via des contrats dérivés sur les métaux et le change. La performance financière de ces couvertures, divulguée dans les rapports annuels, peut amplifier ou amortir l'effet d'un mouvement brusque sur le prix d'un métal. Un mouvement de la production non couverte pour une année donnée peut faire diverger le cours de MNG du cours du métal sous-jacent — les investisseurs sérieux lisent la note relative aux instruments dérivés avant de tirer des conclusions.
Managem hedges part of its future production via derivative contracts on metals and FX. The financial performance of those hedges, disclosed in the annual report, can amplify or dampen the effect of a sharp move in metal prices. A change in the unhedged share for a given year can make MNG's price diverge from the underlying metal — serious investors read the derivative-instruments note before drawing conclusions.
Le cobalt et le cuivre sont des métaux centraux de la transition énergétique mondiale (batteries, câblage, électrification). Le sentiment du marché sur la trajectoire de la demande à long terme — véhicules électriques, infrastructure électrique, énergies renouvelables — influence la valorisation des sociétés minières exposées. MNG bénéficie de périodes d'optimisme structurel sur ces thèmes et souffre dans les phases de doute, parfois indépendamment du prix spot du métal sous-jacent.
Cobalt and copper are central energy-transition metals (batteries, wiring, electrification). Market sentiment on long-term demand trajectories — electric vehicles, electrical grid expansion, renewables — influences valuations of exposed mining companies. MNG benefits from structural optimism on these themes and suffers in phases of doubt, sometimes independently of the underlying metal's spot price.
Within the MASI Industry / Materials cluster, MNG is one of the few listed names with direct exposure to global commodity cycles. OCP Group provides the analogous exposure in phosphates and fertilizer, and the two together capture much of the Moroccan resource-extraction story; they trade on different cycles because phosphate and base metals respond to different end-markets. Cement names like LafargeHolcim Maroc and Ciments du Maroc trade on the domestic construction cycle rather than global metals.
MNG's Moroccan operations are subject to Office National des Hydrocarbures et des Mines (ONHYM) oversight on the upstream side and to standard Moroccan corporate-disclosure rules under AMMC supervision on the listed-equity side. Sub-Saharan operations are subject to local mining codes in each jurisdiction, with all the political-risk implications that entails. The group's annual report breaks down geographic exposure and discusses regulatory risk in each country of operation.
MNG is the listed Moroccan vehicle for taking exposure to the global energy-transition metals story without leaving the Casablanca Stock Exchange. Cobalt and copper exposure in particular is rare to find in dirham-denominated form; the alternative for a Moroccan retail investor is foreign-listed mining names, which Office des Changes regulations restrict. The trade-off is that MNG carries political risk in each African operating geography, FX volatility on revenue translated back to dirhams, and the standard cyclicality of any commodity producer.
The article on Morocco's phosphate reserves in global context covers the OCP story, which is the closest Moroccan analogue to MNG in the resource-extraction space. The two names are not substitutes; they are complementary exposures to different cycles. The article on how to build a portfolio in Morocco discusses where commodity names fit in a balanced Moroccan portfolio.
Each half-year report from Managem discloses revenue by metal, EBITDA, net income group share, and the financial-instruments breakdown that captures hedging performance. The geographic split — Moroccan operations versus African subsidiaries — is presented in the management commentary because the production cycles and political-risk profiles differ materially. Capex commitments by site provide forward-looking signal on which assets are being expanded or maintained.
Only the consolidated headline group-share figures flow through Dalil's automated parsing. Detailed metal-by-metal revenue splits, hedging gains and losses on the derivative book, and country-by-country operating data are documented in the original Managem filing on the AMMC website, which is the canonical source.
The price card shows MNG's last traded price, delayed 15–30 minutes via the Drahmi feed. The amber INDICATIVE chip appears when the upstream is unavailable, in which case the displayed value is a recent reference rather than today's intraday price. The stat bar provides the most relevant comparison points for a mining stock: gold and copper spot prices in dollars (the two largest revenue drivers in the portfolio), USD/MAD (the conversion rate that turns dollar revenue into dirham reporting), and MASI for the broader market.
For a mining company, the headline number is revenue, but the more interpretable number is realised price per metal — revenue divided by tonnes shipped — which the management commentary breaks out by metal in the half-year report. Below revenue, focus on EBITDA margin (which compresses sharply at the bottom of metals cycles) and net debt (which is the constraint on capex during downturns). The article on revenue vs net income explains why these two lines tell different stories at a commodity producer.
AMMC - ammc.ma (Managem filings, listing approvals, regulatory disclosures)
Bourse des Valeurs de Casablanca - casablanca-bourse.com (market data, MASI methodology)
ONHYM - onhym.com (Moroccan mining and hydrocarbons regulatory context)
LME (London Metal Exchange) - copper, zinc, lead, cobalt benchmarks
LBMA (London Bullion Market Association) - gold and silver benchmarks
Managem investor relations - half-year and annual financial reports
Live MNG price on Dalil refreshes every 15–30 minutes through the Drahmi feed.