Fast Market Research

Morocco Mining Report Q3 2012 - New Market Research Report

New Materials research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 09/06/2012 -- The indicators point to strong growth in Moroccan mining production and revenues in 2012 with export revenues from phosphate shown to have increased by 15.7% y-o-y in the first four months of the year. Overall, real growth in mining is forecast at 5% y-o-y in 2012 before falling to an average of 3.1% y-o-y over our 2012-2016 forecast period. While phosphate is set to continue to be the main driver of growth, we note significant expansion in the development of non-core minerals such as tin.

Phosphate Flourishing After Twin Investment

In May the African Development Bank (ADB) provided a further boost to Morocco's phosphate industry with the announcement of a US$250mn to the government to help develop the sector. The funds will be used to help construct a processing facility at Jorf Lasfar - a port 110km south west of Casablanca - which will turn raw phosphate into fertiliser and phosphoric acid. The loan agreement is part of the ADB's wider strategy to develop agriculture and increase food security across the continent.

View Full Report Details and Table of Contents

Funding provided by the ADB comes on the back of a major investment drive by state-owned mining firm Office Cherifien de Phosphate (OCP). The company has pledged to invest US$8.8bn in developing Morocco's phosphate industry between 2010 and 2020 as it seeks to expand the country's total production to 47mnt a year by 2020. The expansion should see Morocco cater to growing demand for fertilisers from Asian and African markets. OCP is also invested in developing a new EUR90mn phosphate terminal at Jorf Lasfar. The port is home to OCP's chemical complex and is a major terminal for exports of sulphur, phosphates and fertilisers.

Business Environment

Morocco has a well-developed mining industry. However, the majority of the industry remains under state control, which acts as a major limitation on potential opportunities for foreign investors. In addition, an inefficient tax regime and under-developed labour infrastructure also act as constraints on growth. Given these constraints, Morocco currently ranks bottom of our Business Environment Ratings for the African mining industry with a score of 34 out of 100.

On the positive side, energy and transport infrastructure is improving, following recent investments. Furthermore, the state provides mining investors with a safe operating environment alongside security of investment. Also there are a number of incentives for mining companies. These include a 50% reduction in tax for miners that export their products. There are also exemptions on customs duties and some tax exemptions for imported equipment.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Materials research reports at Fast Market Research

You may also be interested in these related reports:

- Global Mining Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies in the Global Mining Industry
- Global Mining Survey 2012-2013: Market Trends, Buyer Spend and Procurement Strategies in the Global Mining Industry
- Chile Mining Report Q3 2012
- Namibia Mining Report Q3 2012
- Angola Mining Report Q3 2012
- Industry Dynamics, Growth, Threats & Opportunities in the Mining Industry - 2012-2013 : Survey Intelligence
- Peru Mining Report Q3 2012
- Botswana Mining Report Q3 2012
- United States Mining Report Q3 2012
- China Mining Report Q3 2012