Mubasher: Morocco-based mining firm Managem said Monday its net profits for the first half of 2015 declined by 7% to MAD 140 million ($14.5 million) due to the drop in metal prices globally.

The Casablanca-listed company cited a fall in silver by 17%, copper (14%) and gold (7%) during the first half of 2015.

Controlled by the Moroccan royal family's holding company SNI, Managem produces gold, silver, cobalt and copper in Morocco and other African countries including Gabon, Sudan and Congo Republic.