# Aya Gold & Silver mining expansion in Morocco

> Live situation record from CLSTR: https://clstr.news/situations/aya-gold-silver-mining-expansion-in-morocco
> Updated: 2026-09-09T15:13:55.000Z. Sources: 5. Developments: 2.

Aya Gold & Silver is expanding its mining operations in Morocco through strategic acquisitions and updated project valuations.

In early September 2026, the company acquired a 139 km² exploration permit portfolio near its Zgounder silver mine for 4 million Canadian dollars. This acquisition, which includes a 19 km² exploitation permit, is intended to facilitate exploration for copper and silver resources over the following 12 to 18 months.

Shortly thereafter, the company reported a significant increase in the valuation of its Boumadine polymetallic mine project. An updated preliminary economic study estimated the project’s net present value (NPV) at approximately $3.54 billion in its base case, more than doubling previous assessments. Under specific spot price scenarios, the NPV could reach $5.5 billion. This valuation increase is attributed to higher metal price assumptions, increased production volumes, and an extended operational lifespan of 14 years.

## Timeline

### 2026-09-09: Aya Gold & Silver raises Boumadine mine valuation to $3.5 billion

Aya Gold & Silver has raised the valuation of its Boumadine mine in Morocco to $3.54 billion, driven by extended mine life and higher metal price assumptions.

3 sources. https://clstr.news/cluster/aya-gold-silver-raises-boumadine-mine-valuation-to-35-billion

### 2026-09-02: Aya Gold & Silver expands Moroccan mining footprint near Zgounder

Aya Gold & Silver has acquired a 139 km² exploration portfolio near its Zgounder mine in Morocco to expand its copper and silver operations.

2 sources. https://clstr.news/cluster/aya-gold-silver-expands-moroccan-mining-footprint-near-zgounder

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Cite as: Aya Gold & Silver mining expansion in Morocco. CLSTR, https://clstr.news/situations/aya-gold-silver-mining-expansion-in-morocco