Morocco's biggest miner Managem said on Wednesday it has ended gold extraction in the southern Akka gold mines after reserves fell to non-viable levels, leading to the loss of around 300 jobs from its own staff and contractors, according to Reuters.
General manager Ismail Akalay said the company would increasingly focus on copper, following the discovery two years ago of a copper deposit of around 1.15 million tonnes in the same area, increasing total copper reserves to 8 million tonnes.
"In Akka's gold mines, we have around 800 workers and we have succeeded to transfer 500 to other locations," Akalay said.
"Now we are in talks with our 100 workers for severance payments, as the deal with the 200 interim contractors has been already signed between their company and unions," he added.