Moroccan Company Managem's Net Income Drops in First Half of 2019
Rabat, Aug. 16 -- Managem, a Moroccan mining company that specializes in precious metals, cobalt, and other minerals, announced on Thursday, August 15, that its turnover for the first half of 2019 has declined by MAD 300 million compared to July 2018.
Managem attributes the drop in net income to a significant decline in the prices of cobalt, zinc and copper.
"In an industry marked by uncertainties that continue to weigh on the world economy, metal prices saw a significant change at the end of June 2019, compared to the same period of the previous year," said Managem in a statement.
The average price of cobalt, notably, is down 62%, and all companies in the mining sector have been affected by these changes, added Managem.
The company a...
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