MORILA SA Mine Crisis: Sales Agreement Signed with Investor FireFinch

In an official press release dated June 19, 2024, the General Manager of Morila SA informed all employees that an agreement had been signed with the investor FireFinch for the sale of the company’s assets and liabilities. This approach is part of the crisis management that Morila SA is going through and aims to ensure an effective recovery of mining activities.

Despite this agreement, the process of restarting operations could take between three and six months as the search for new investors is still ongoing. Therefore, after a period of economic unemployment for some employees, the General Directorate of Morilla Corporation announced the termination of the employment contracts of all employees for economic reasons from June 19, 2024.

The recruitment of workers required to implement mine care, maintenance and safety processes will be carried out gradually in line with current legislation.

In conclusion, the announcement of this sales agreement marks an important step in the crisis management of Morila SA and offers bright prospects for recovery for the company and the region.
Omar Ongoiba