Aya Gold & Silver Inc. Reports Payments to Moroccan Authorities
Aya Gold & Silver Inc. has recently released its annual report in compliance with Canada's Extractive Sector Transparency Measures Act (ESTMA) for the fiscal year extending from January 1, 2025, to December 31, 2025. This comprehensive report sheds light on the company's financial contributions to the Moroccan government, particularly concerning its mining operations within the country. The data reflects Aya Gold's commitment to transparency and adherence to regulatory requirements, showcasing the payments made in Canadian dollars (CAD) for various obligations incurred during the year.
In this report, Aya Gold disclosed significant payments totaling CAD 2,270,000 associated with the operations of the Zgounder Millenium Silver Mining S.A. project. The breakdown of payments includes CAD 1,740,000 in royalties paid to the National Office of Hydrocarbons and Mines, CAD 120,000 paid in taxes to the General Tax Administration, CAD 340,000 in royalties to the rural town of Askaouen, and CAD 140,000 in fees to the Minister of the Interior. It is important to note that all payments made to Moroccan authorities were executed in Moroccan Dirhams (MAD), which were converted into CAD using an average exchange rate of 6.6821 MAD per CAD. This detailed financial information underscores the significant economic impact of Aya Gold's operations on local and national levels in Morocco.
As reported by stocktitan.net.
