( 3 minutes read)
· Morocco is on a mode to revive its mining industry.
· It has an estimated 77% of the world’s total phosphate
reserves and remains the leading global exporter, accounting for 10%
of Morocco’s GDP, with 90% of this coming from phosphates.
· Of late, Morocco is strategizing to increase activity in
underdeveloped segments of mining, such as arsenic, barite, cobalt and
fluorspar
Morocco is on a mode to revive its mining industry. Many foreign
companies have entered the mining sector in recent years. Morocco is
wanting to piggy ride with them to develop the mining sector, which in
the past contributed significantly to the economic growth. In many
cases, exploration of various minerals have started in a big way.
Morocco is home to a range of metals and minerals. Phosphates is mined
in large quantities. It has an estimated 77% of the world’s total
phosphate reserves and remains the leading global exporter, accounting
for 10% of Morocco’s GDP, with 90% of this coming from phosphates.
Of late, Morocco is strategizing to increase activity in
underdeveloped segments of mining, such as arsenic, barite, cobalt and
fluorspar. Silver mining activity is also expected to accelerate. 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.
The local mining companies include Touissit Mining Company, which
produces lead, Managem, which produces silver, Akka Gold Mining;
Compagnie de Tifnout Tighanimine, which is specialised in cobalt
production; Société Anonyme des Entreprises Minières, specialising in
fluoride production; Compagnie Minière des Guemmassas, which produces
concentrates of zinc, copper and lead; and Reminex, which is involved
in technology and research, among others.
Several multinationals are also active in the mining sector, such as
Canadian mining company Maya Gold & Silver, which focuses on gold and
silver mining in the kingdom, Australian company Kasbah Resources is
also present, and is developing the Achmmach Tin Project and the Bou
El Jaj Tin Project in northern Morocco. It has recently signed an
agreement with UK-based Moroccan Minerals to form a new joint venture
at the Tamlalt gold project.
The sector strategy also seeks to modernise mining regulations –
something that a new mining code adopted in July 2015 set out to do.
Long governed by a mining code implemented in 1956, a new law put into
force after years of discussion is aiming to expand the country’s
mining industry, especially focusing on underdeveloped mineral
substances. The new code sets out to improve resource development by
increasing the number of exploration permits. The size of new
exploration permits is set to be greatly increased and will allow for
prospecting licenses for larger areas of between 100 sq km and 600 sq
km
