Morocco to increase non-phosphate revenue to $1.6 billion by 2030

Morocco to increase non-phosphate revenue to $1.6 billion by 2030

Morocco aims to increase non-phosphate mining revenue to 1.6 billion from 730 million dollars in 2020, the energy and mining ministry said in its newly unveiled 2025-2030 development plan.

The plan also provides for raising investments in prospection and research to 450 million dirhams, the ministry said.

The mining sector contributes by up to 10% of Morocco’s GDP and represents 20% of Morocco’s exports.

The new plan also aims to increase jobs in the mining sector to 30,000 by making investment by mining companies easier through a simplification of procedures and permits.

Speaking at the plan presentation, Energy and Mining Minister Aziz Rebbah said Morocco plans to build on its resources in order to promote investments in the sector and use precious metals as a lever in strategic negotiations.

He said these strategic metals can be used to attract investments by world leaders in innovative industries.

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