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Morocco targets US $1.7bn in from non-phosphate mining revenue

Morocco targets US $1.7bn in from non-phosphate mining revenue

The government of Morocco is targeting US $1.7billion revenue from non-phosphate mining by 2030 by facilitating investments and tax incentives.

With 72% of global reserves, Morocco is the world’s largest phosphates exporter and last year its state-owned phosphates company OCP reported revenue of 56.1 billion dirhams. The Moroccan energy and mining ministry said in its 2025-2030 mining development plan that it is also aiming for a tenfold increase in investment in mine prospecting and research to 4 billion dirhams.

Strategic metals

Energy and Mining Minister Aziz Rebbah said the government would put particular focus on “strategic metals” such as those used in the renewable energy sector. The country is a major producer of renewable energy but also relies on gas imports, including through a pipeline running from natural gas producer Algeria through Morocco to Spain.

According to the US Geological Survey, Morocco accounts for 16% of global arsenic output, 10% of barite, 2% of cobalt and 1% of fluorspar. Silver mining activity is also expected to accelerate. As the mining industry grapples with a drop in prices of metals and minerals, a new mining code has been passed with the aim of attracting foreign investment, increasing capacity, and spurring upstream and downstream activity in a more diverse range of strategic commodities.

 

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