First Independent Mena Newspaper
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 phosphates company, OCP, denounced the “political piracy’” practiced by South Africa, which has been detaining the vessel Cherry Blossom loaded with 55,000 tons of Moroccan Sahara phosphates bound for New Zealand for more than 70 days, in a hostile act revealing the striking partiality of Pretoria’s justice system. In a statement, the OCP and […]
The consolidated revenues of Morocco’s state-run phosphates company, Office Chérifien de Phosphate (OCP), fell to 42.47 billion dirhams in 2016, compared to 47.73 billion dirhams in 2015. The OCP, the world’s leading phosphates exporter, imputed the drop to the slide in phosphate and fertilizer prices, prompting efforts to increase production and cut costs to counter […]
Morocco’s Central Bank announced that measures will be gradually taken to ensure a more flexible exchange rate of the Dirham amid promising macro-economic conditions marked by low oil prices and increasing demand on phosphates. The floating of the pegged dirham was encouraged by the IMF which sees in a more flexible exchange regime a move […]
Morocco’s state-owned phosphates company (known by its French acronym OCP) will invest 2 billion dirhams in a water desalination plant in the Atlantic city of El Jadida. Part of the OCP’s environmental strategy, the new plant will have a capacity of 75 million cubic meters per year as of 2020, its projected date of completion, […]