The Moroccan subsidiary of Canadian mining company Aya Gold & Silver, Zgounder Millenium Silver Mining, has received a payment of $8 million under bank guarantees issued on behalf of Duro Felguera and its affiliates. The latter is a Spanish company that had been contracted as the engineering, procurement, and construction (EPC) contractor for the Zgounder Expansion Project in Morocco, said Aya Gold & Silver in a statement issued Thursday, August 7. The payment represents compensation as stipulated in the EPC agreement. The compensation is a financial settlement provided under the EPC contract to cover potential losses or breaches of obligations by Duro Felguera, reinforcing Aya's ability to enforce its contractual rights. The company noted that the recovery of these funds underscores its «strong project oversight, risk mitigation, and contract enforcement practices». Aya Gold & Silver is a rapidly growing Canadian-based silver producer operating exclusively in Morocco. It is the only pure silver mining company listed on the Toronto Stock Exchange. Aya operates the high-grade Zgounder Silver Mine and is actively exploring several properties along the Anti-Atlas Fault, a region known for its mining history and existing historical resources.
