Min­ing con­trib­utes 10% to na­tional in­come: Moroc­can Deputy Min­is­ter of En­ergy

IN­CREASE OF MIN­ERAL WEALTH TO 15% OF THE COUN­TRY’S IN­COME IN 2025

The Daily News Egypt - - News - By Mo­hamed Adel

Ali El Melouky, the head of min­ing at the Moroc­can Min­istry of En­ergy and Sus­tain­able De­vel­op­ment and deputy min­is­ter of En­ergy, said that the min­ing sec­tor cur­rently ac­counts for 10% of the to­tal in­come of the king­dom. “With the ap­pli­ca­tion of a strat­egy for de­vel­op­ing the sec­tor, we aim to take the share of the min­ing sec­tor to about 15% of the to­tal na­tional in­come by 2025,” he added.

He noted that Mo­rocco’s pro­duc­tion of min­er­als was es­ti­mated to be 36m tonnes last year, as crude phos­phates ac­counted for 90% of the king­dom’s to­tal pro­duc­tion, as to­tal phos­phates pro­duc­tion reached nearly 32m tonnes last year.He added that Mo­rocco will be launch­ing a strat­egy to de­velop its min­eral re­sources un­der the name Min­eral Mo­rocco next year, and it is ex­pected to con­tinue un­til 2025.

The strat­egy in­cludes the as­pect of amend­ing laws in or­der to sim­plify pro­ce­dures,which will en­cour­age in­vestors in the field of min­ing, as the king­dom aims through the strat­egy to take in­vest­ments in the field to 10 times their cur­rent vol­ume, and that the to­tal Moroc­can in­vest­ments in the field last year reached DH 14bn, El Melouky pointed out.

Fur­ther­more, he noted that Mo­rocco oc­cu­pies the first place in terms of phos­phate re­serves, ac­quir­ing about 73% of the to­tal world re­serves.The king­dom ex­ports phos­phates as a crude ma­te­rial, in ad­di­tion to phos­phoric acid and fer­tilis­ers.“We seek over the up­com­ing pe­riod to co­op­er­ate with Egypt to utilise phos­phates,” he added.

Moroc­can laws al­low in­vestors to es­tab­lish com­pa­nies to work in the field of min­ing dur­ing a pe­riod of no more than two days which en­cour­ages in­vestors to in­vest in the Moroc­can field of min­ing, given that in­vestors ob­tain the to­tal pro­duc­tion in ex­change for pay­ing the taxes im­posed on com­pa­nies,rang­ing be­tween 17.5% and 20%, El Melouky de­clared.

The king­dom of Mo­rocco launched a strat­egy to de­velop its re­sources from the min­ing field in 2009, with a cost es­ti­mated to be DH 200bn, an equiv­a­lent of $20bn.

MO­ROCCO RE­CEIVES ONLY TAXES FROM IN­VESTORS AND DOES NOT SHARE PRO­DUC­TION

El Melouky said that Mo­rocco will be launch­ing a strat­egy to de­velop its min­eral re­sources

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