Morocco has found in the mining sector a new niche with which to further strengthen its economic situation. In a bid to continue its recovery from the blow of the pandemic two years ago, Rabat is combing the market for opportunities that will allow the Kingdom to continue in its position as regional leader. The significant increase in exports in the food sector has now been joined by the mining sector, which, with an investment of more than 13 billion dirhams – just over one billion euros – could become one of the pillars of the Moroccan economy.
This may sound like a tall order, but it should be borne in mind that mining accounts for more than a quarter of the country’s total exports. In 2021, 26% or, in other words, 86 billion dirhams – almost eight billion euros – earned from exports came from mining, almost all of it from phosphates.
Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, stressed the importance of mining and its economic and social development at all levels, national, regional and local. Furthermore, despite the good data obtained by Morocco last year, Benali points to an increase in investment with a view to continuing growth in 2023: “mining exploration, with the exception of phosphates, requires huge and very important investments”. In fact, with the exception of phosphate, mining investment is very low, according to the minister.
“Investments in exploration and research in the mining sector, excluding phosphate, amounted to 1 billion euro by 2021”. This should not be a cause for concern since, as mentioned above, the overall figure is very positive for Morocco. However, Leila Benali assures that, despite the good overall figures, mining investment in non-phosphates “remains below the level necessary for prospecting, since the richness of the Moroccan subsoil is due to this”.
The ministry says it is committed to increasing mining research and exploitation. To this end, they want to implement a series of procedures and reforms with the aim of promoting this sector and turning it into a lever for regional and local development. A study is also underway to develop a draft law for the reform of Law 33.13 on mines and the promotion of the mining sector. In addition to this, energy liberalisation measures for Moroccan small and medium-sized enterprises in order to be able to cope with the carbon tax in 2023.
Source: atalayar.com
