Present in Sudan for more than ten years, the group Managem recorded a quack a few days after the blocking of the delivery of a cargo of gold. “It’s a simple misunderstanding. Our customers and partners know us and know that we always work in the strictest respect of the regulations. We clarified the situation with the competent Sudanese authorities,” says Imad Toumi, CEO of Managem.
The group has invested $ 120 million since the beginning of its activities in Sudan and employs more than 900 people. The CEO of Managem reviews the evolution of this issue, activities in Sudan and its African strategy.
– One of your gold expeditions has recently been blocked in Sudan. Why and where is this folder?
Toumi: It’s a simple misunderstanding. An unexpected administrative block caused the freezing of an expedition and necessitated further due diligence. Our customers and partners know us and know that we always work in the strictest respect of the regulations. We clarified the situation with the relevant Sudanese authorities. We are confident and this shipment should be exported very soon to our customer.
– In the current Sudanese context, how are your activities evolving?
We are a private operator and a reference mining player who always invests in the long term and in a responsible way. We are respected and recognized for our business expertise, our seriousness and our commitment to contribute to a beneficial development of the territories and populations with which we operate. Since the beginning of our activities in Sudan, more than 10 years ago, Managem maintains strategic partnerships and is delighted by the long-term relationships between the group and the Sudanese institutions and its sectoral bodies.
The group has developed this ability to evolve in terrain like Sudan that requires a high degree of operational and logistical control.
Thus, thanks to its expertise and the mobilization of its teams, Managem has succeeded in building a state-of-the-art factory, one of the first industrial units in the country. Since the beginning of its activities in Sudan, it has invested $ 120 million and created more than 900 jobs and plans to continue to create more in the future.
– Does this strong development in Sudan concretize your development strategy in Africa?
Managem’s African strategy is based on the development of gold activities in both West Africa and Sudan.
In the African countries where we operate, we strive to develop large-scale projects of international standards and export our know-how, acquired for nearly 90 years throughout the entire value chain. Thus, as an industrial actor, we participate in the local economic and social development of the regions where we operate – always with special attention to societal and environmental issues. Today, the group is beginning to realize its African growth and is entering a phase of delivery of its projects. Beyond the launch of our new plant in Sudan, we have two projects under construction: Pumpi and Tri-K. In the DRC, Pumpi is a very large project that requires a $ 580 million investment to produce copper and cobalt. This project is developed in partnership with Wanbao Mining, a renowned international operator that has the capacity to finance and build such projects. The construction of the mine has started and we plan to start production in early 2021. In Guinea, we completed this year the bankable feasibility study of the gold project Tri-K, a study to international standards recognized as a model for its quality on gold projects in the country.
– Beyond an international development, does the group envisage other perspectives?
The diversification of our businesses and innovation in products are today a necessity for our development. In particular, we are working on the possibility of going further along the mining value chain in order to develop higher value-added activities that are less exposed to fluctuations in metal prices, such as recycling or the production of precursors.
Today, we have already invested in our facilities in Guemassa to be able to convert cobalt hydroxide derivatives from our customers into cobalt cathodes. This industrial transformation and our expertise in research and development are driving forces to create value in our businesses and develop high value-added industrial activities.
In this respect, our diversification and innovation is an asset for inclusive growth in Africa. Creating sustainable value remains our raison d’être. This is what explains wherever we intervene, the mobilization of our teams.