Canadian mining firm Aya Gold & Silver has received a $25 million credit facility from the European Bank for Reconstruction and Development (EBRD) to support the expansion of its mining operations in Morocco, with a focus on the Boumadine and Zgounder sites.

Announced on Tuesday, the two-year loan will be used to advance development at the Boumadine polymetallic project in Morocco’s Oriental region and enhance the company’s financial flexibility. The facility, which carries a 5% interest rate, will be repaid as a bullet payment, pending final agreement terms and regulatory approvals.

Aya Gold’s CEO, Benoit La Salle, hailed the renewed partnership with the EBRD as a clear vote of confidence in the company’s strategic direction and commitment to sustainable mining practices.

“This financing is a testament to the strength of our business model and our shared commitment to responsible mining,” La Salle said in the company’s statement.

The EBRD also praised Aya Gold’s recent performance, pointing to a 64% increase in silver production at the company’s Zgounder mine since the start of 2025. The mine is one of the company’s flagship operations and a key contributor to its growth.

This funding follows Aya Gold’s earlier announcement in January of a $50 million investment to expand its mining activities across Morocco. With a total silver output of 8.8 million ounces in 2023, Morocco ranks as the 15th-largest silver producer globally—further reinforcing its rising profile in the international mining landscape.