Morocco Boasts MENA Region’s Second Largest Mining Sector
Morocco has the second biggest mining sector in the Middle East and North Africa, BMI, a Fitch Group company, said in a recent study.
BMI’s Risk Reward Index showed that Morocco came second with a score of 56.3 out of 100 preceded by Saudi Arabia ranking first with a score of 59.5.
The study explained Morocco’s performance by its phosphates sector as well as gold, silver, zinc, copper and cobalt mining activity.
The Mining sector contributes 21% of the value of export remittances and employs about 39,225 people.
Globally, Morocco is the world’s second largest producer of phosphates, harboring about 75% of the world’s estimated reserves.