Managem Group is continuing its diversification strategy with the creation of Mana Energy, a new wholly owned subsidiary dedicated exclusively to developing its natural gas business. This restructuring marks a significant milestone in the Group’s evolution as it seeks to make energy a new engine of growth alongside its long-established activities in precious metals and critical minerals.
The new subsidiary will consolidate all of Managem’s gas projects, particularly the development of the Tendrara gas field located in Morocco’s Oriental region. By establishing a dedicated governance structure for this business, the Group aims to accelerate investments, facilitate project financing, and prepare for the large-scale commercialization of its gas operations.
The Tendrara project is currently regarded as one of Morocco’s most promising energy assets. The first phase is expected to begin natural gas production during the second half of 2026, supported by a liquefaction unit designed to supply industrial customers directly. This solution will enable manufacturers to secure gas supplies rapidly while reducing their dependence on imported fuels.
A second phase, scheduled for 2029, includes the construction of a gas processing plant and the connection of the Tendrara field to the Maghreb-Europe Gas Pipeline (GME). This infrastructure will pave the way for large-scale gas distribution and significantly strengthen Morocco’s national energy security.
The establishment of Mana Energy comes as Morocco accelerates the development of its natural gas sector in order to diversify its energy supply sources and support the continued expansion of its industrial base. Natural gas is expected to play an increasingly important role in the country’s energy mix, complementing the rapid growth of renewable energy.
For Managem, this diversification also represents a major value-creation opportunity. Under its 2026–2030 Strategic Plan, the Group intends to invest more than MAD 10 billion to expand its mining, industrial, and energy operations. Natural gas therefore complements a diversified portfolio that already includes copper, cobalt, gold, and other strategic minerals.
Beyond investment, Mana Energy will provide the Group with a more agile corporate structure capable of attracting specialized industrial, technological, and financial partners. This organization will also support the development of new gas projects while facilitating future initiatives related to clean energy and the energy transition.
By establishing this new subsidiary, Managem reaffirms its ambition to become an integrated natural resources company, combining mining operations, the valorization of strategic minerals, and energy production within a single industrial platform. This strategic direction is fully aligned with Morocco’s national objective of strengthening its energy sovereignty, securing reliable energy supplies for industry, and supporting a more competitive, resilient, and less import-dependent economy.
