“Attracting investors is one of the challenges in the mining industry,” said the Moroccan mining official.
Rabat – While emphasizing the importance of the mining sector in Morocco, Minister of Energy Aziz Rabbah also spoke about the challenges it faces.
The official delivered a presentation during the opening of the Marrakech Mining Convention, held April 17-19 in Marrakech, convening officials from 15 African countries and European states.
In his presentation, Rabbah said that Moroccan mines produced 35.11 million tons of minerals in 2017. Phosphate, a major pillar in Morocco’s economy, represents 90% of the mining production.
The official added that mineral investments amounted to MAD 14 billion, and Morocco has a strategy to develop the sector by 2025.
Rabbah said that the main goal of the strategy is to develop investment in mineral exploration to the tune of MAD 4 billion ($416 million). The official remarked that one of the sector’s challenges is to “attract maximum investors.”
Rabbah also hopes that the strategy will help create 30,000 direct jobs.
“It was necessary to assess what was done, assess achievements and asses the difficulties and impediments that emerged five years after the launching of this strategy,” he said.
Rabbah added that his ministry is “working on the preparation and launching of Morocco’s mineral plan,” which aims to make the sector a “model” industry by 2025.
Investment can be risky, Rabbah noted, because studies and exploration take a lot of time “and we cannot expect immediate profit.”
During his presentation, Rabbah also called for the development of services related to the sector, including transport and logistic services. “We do not focus enough on these services.”