Morocco's Microeconomy In Mining
From International Business Wiki
Morocco a country located in Northwest Africa just south of Spain is well known for its billion dollar Mining Industry dominated by phosphate. This raw and manufactured ore is the country’s main export with three-quarters of the earth's phosphate reserves after the United States and Russia. This particular phosphoric acid dates back to the Phoenicians in the early 1200 to 800 B.C and is found mined in Khourigba, Youssoufia, and the Western Saharan mine of Boucraa and Benguerir usually lying in long narrow pits within several hundred feet of the surface.
Phosphate used for many purposes is a clear colorless liquid used in the production of fertilizers, soaps, detergents, animal feeds, and certain drugs. The Mining Industry in Morocco is the third largest producer of phosphate following the United States and China and the largest exporter.
Mining in Morocco accounts for 95 percent of the countries volume with 88.5 billion tons proven in reserves. The mining, processing, and fertilization of phosphate rock was Morocco’s leading industry in 2002 becoming the country’s leading export commodity, with minerals ranking third.
Phosphate Mining was produced and founded in 1920 by state-owned Office Cherifien des Phosphates, who was responsible for managing and controlling the mining facilities at Youssoufia, Benguerir, Bou Craa, Sidi Chenan, and Khouribga produced 27 million tons per year.
The first profitable year for the Industry was in 1996 at the facility of Youssoufia. Phosphate has been able to furnish the supply and demand for this country and has brought them revenues of $434 million through the country’s exports. Morocco’s leading industry in 2002 was composed of Phosphate rock mining, processing, and fertilizers comprising the country’s export commodity, having minerals rank third. Since 1996, the government has shifted focus toward marketing its phosphate products through joint ventures with foreign companies, mainly French and Belgian. Through this method the microeconomy of this industry will drastically increase its revenues.
References: (www.nationsencyclopedia.com) (www.miningreview.com)(www.mbendi.com)
