SMI revenue increases 36% to 852 million dirhams in first half of 2026

This growth was primarily driven by a 120% rise in the average price of silver, which offset a 38% decrease in sales volumes during the period. The reduction in sales volumes was attributed to scheduled maintenance work and a delay in the commissioning of a quarry project. SMI's investments reached 190 million dirhams in the first half, a 111% increase compared to the same period in 2025.

These investments are focused on accelerating mining development and preparing future production centers to enhance reserve renewal and support production potential. As of June 2026, SMI's net cash stood at 243 million dirhams, a decrease of 297 million dirhams from the close of 2025, mainly due to dividend distribution and an increase in working capital requirements.