In Morocco , the group operates through a number of companies spread out over the whole country :

CTT (Compagnie de Tifnout Tighanimine) :
Located 120 kilometers south of the town of Ouarzazate , CTT-Bou Azzer is one of MANAGEM's oldest mines. Thanks to its long experience, dating back to 1930, today it has recognized expertise in prospecting, mining and processing of primary cobalt.

CTT Guemassa, a company in charge of the group's hydrometallurgical activities as a whole, manages five operational units producing cobalt cathodes, copper sulfate, nickel sulfate and zinc oxide.

In order to consolidate its hydrometallurgical activity, Managem will be launching a cobalt derivative production project in the 2 ^nd half of 2006.

CMG (Compagnie Minière des Guemassa) :
Created in 1988, CMG runs the Hajar polymetal mine, 30 km from Marrakech, and has been producing zinc, lead and copper concentrates since 1992.

SMI (Société Métallurgique d'Imiter) :
Created in 1969, SMI operates the Imiter metal silver mine, located 150 kilometers east of Ouarzazate. It produces 99.5% pure metal silver bullion.

Samine (Société Anonyme d'Entreprises Minières) :
Created in 1974, Samine operates the El Hammam mine located 80 kilometers from Meknès. It is one of the top fluorine producing mining firms in the world.

AGM (Akka Gold Mining) :
Akka Gold Mining, 280 kilometers south-east of Agadir, started extracting metal gold from the Iourirn gold deposits in 2001.

REMINEX
Created in 1984, REMINEX is MANAGEM's Research and Engineering subsidiary. With over 120 research staff, geologists, engineers and technicians, REMINEX has become the spearhead for the modernization of the group's mining activities; it is at the heart of all MANAGEM's exploration, development and engineering projects.

TECHSUB
Formed in 1992, TECHSUB's core activities are boring and underground work. It has equipment for drilling the boreholes necessary for geological and geotechnical land reconnaissance.

The group also has an international presence through the following subsidiaries:

Ressource Golden Gram Gabon

On July 22, 2005, MANAGEM signed a partnership agreement with the Canadian mining company, Ressources SEARCHGOLD Inc for the acquisition by MANAGEM in the long term of a 63% holding in SEARCHGOLD's Gabonese subsidiary which has a 100% stake in the Bakoudou gold project. The latter, located in the south east of Gabon , has a prospecting permit for an area of 2,300 km² and a production license for an area of 24 km².

MANATRADE
MANATRADE AG, a MANAGEM subsidiary established in Switzerland, whose main activity is the marketing of group subsidiaries' products.

LAMIKAL, (La Minière de Kalukundi)
On January 6, 2006, MANAGEM signed a partnership with Costamin, a Congolese company holding two high potential cobalt and copper permits in the Democratic Republic of Congo. This partnership resulted in the formation of the company “ La Minière de Kalukundi”, LAMIKAL, in which Managem has a 75% interest. The Costamin permits were transferred to Managem in return for the latter's commitment to finance the development program up to the feasibility study.

SEMAFO
MANAGEM has a minority holding of around 10% in the Canadian mining resources company SEMAFO, a gold mining company carrying out exploration, development and production in West Africa .