CMT: Revenue Soars by 74% in the First Half of 2026
Touissit Mining Company Reports Significant Growth in Activity for First Half of 2026
The Touissit Mining Company (CMT) has announced a substantial increase in its activities for the first semester of 2026, with consolidated revenue reaching 596 million dirhams, up from 343 million dirhams over the same period last year. This represents an impressive growth rate of 74%. The company’s performance is primarily driven by rising prices for certain metals and an increase in sales volumes, even as the production of concentrates shows a slight decline.
Metal Prices Bolster CMT’s Revenue
As of the end of June 2026, the Touissit Mining Company has demonstrated its ability to capitalize on fluctuations in international metal markets. The consolidated revenue stood at 596 million dirhams, compared to 343 million dirhams during the same timeframe in 2025.
This 74% increase can largely be attributed to improved prices for metals traded by the group. According to released data, the price of zinc rose by 22%, while silver prices skyrocketed by 141%. In contrast, lead saw a slight price decrease of 1%.
These developments have led to a better valuation of CMT’s sales. In the mining industry, revenues rely not only on quantities produced and sold but also on international prices, which fluctuate in response to industrial demand, economic forecasts, and the balance between supply and demand.
Thus, the company’s semi-annual performance reflects the combined effect of a favorable price environment and an increase in sales volumes.
Sales Increase Despite Decline in Concentrate Production
From an operational perspective, CMT’s indicators reveal mixed results concerning ore processing, concentrate production, and sales.
During the first half of 2026, the company processed 174,430 tons of ore, a volume approximately equivalent to that recorded the previous year. Concentrate production totaled 13,400 tons, representing a 4% decline year-on-year.
Conversely, sales volumes increased by 17%, reaching 16,096 tons. This discrepancy between production and sales emphasizes the importance of stock management and delivery scheduling in shaping the mining company’s revenue.
Consequently, the rise in sales has helped support the company’s revenues, alongside favorable developments in metal prices. However, this increase does not necessarily correlate with an equivalent growth in production capacity.
Strong Performance Continues into Second Quarter
The positive commercial momentum was also evident in the second quarter of 2026. During this period, CMT achieved revenue of 255 million dirhams, up 47% compared to the second quarter of 2025.
Operationally, the company processed 88,250 tons of ore and produced 7,020 tons of concentrates during these three months.
These results extend the trend observed since the start of the year, showcasing the significant impact of metal price valuations on revenue growth. They also illustrate the company’s capacity to maintain a robust commercial performance despite a slight drop in concentrate production compared to the previous year.
Profitability Will Depend on Market Trends and Costs
The notable revenue growth is a positive indicator for CMT; however, it does not automatically imply a corresponding increase in profit. The evolution of operating costs, energy expenses, maintenance costs, and financing conditions remain crucial in evaluating the company’s actual profitability.
The challenge for the company is to convert this favorable environment into sustainable development drivers, particularly through modernization of facilities, productivity improvement, and cost control.
The fluctuations in zinc, lead, and silver prices will also be pivotal in the coming months. Any potential corrections in the markets could diminish the positive trends observed in the first half, whereas sustained high prices would provide additional support for revenues.
CMT Faces Mining Performance Challenges for 2026
The first semester results highlight CMT’s economic model sensitivity to fluctuations in international metal markets. With a consolidated revenue increase of 74%, the company is benefitting from a favorable trading environment further bolstered by increased sales volumes.
However, the continued success of this trend will depend on CMT’s ability to maintain its operational performance, control its costs, and convert additional revenues into profitability gains and productive investments.
Overall, the first half of 2026 represents a favorable period for the Touissit Mining Company, but the final results for the entire fiscal year remain to be seen.
