‘Managem’ Sales Drop 13%

Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
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‘Managem’ Sales Drop 13%

Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal
Heavy machinery is seen at a phosphate mine at Boucraa factory of the National Moroccan phosphate company (OCP) situated in the southern provinces, 100 km southwest of the town of Laayoune February 18, 2016. REUTERS/Youssef Boudlal

Group Managem announced Tuesday a 13 percent drop in its sales in the first half of 2019, totaling MAD2.16 billion (USD227.5 million) end of June.

The company attributed the fall in sales to the sharp decline in metal prices in global markets amid an economic slowdown. It noted that copper prices during the same period dropped around 11 percent, while prices of cobalt went down 62 percent and that of Zinc 16 percent, lead 20 percent and silver 9 percent.

The firm said it managed to balance the price drop impact on its revenues by increasing output.

It highlighted that its silver production in Imider Mine, in southern Morocco, increased 35 percent while its cobalt output went up 36 percent. Further, gold production skyrocketed in Manub project in Sudan, following the operation of its new division in February.

Managem’s investments reached MAD798 million (USD84 million) in the first half of 2019, a 25 percent increase from the same period last year. Thirty percent of this investment was directed to develop new metal projects.

The company’s debts rose to MAD3.52 billion (USD370 million), a 28 percent increase from the end of 2018. It was the result of investment expansion efforts, mainly in Sudan’s gold mines.

Moreover, Managem purchased 30 percent of the National Metal Manufacturing and Casting Co.’s capital for USD21 million, enhancing its share in the Guinean company to 84 percent.



FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.