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Fez – Morocco is the best place for mining investment in Africa, and the eighth best in the world, according to a Canadian think tank.
The Fraser Institute’s 2021 annual survey of mining companies ranked 84 mining investment destinations around the world, in a study published last week.
To assess how attractive investing in those mining areas is, the study looked at the quality of minerals and metals, and government policy that affects mining exploration and investment decisions.
The mining industry, including silver and other metals, represents 10% of the kingdom’s GDP, with 90% coming from phosphates, according to the Bard Center for Environmental Policy.
Morocco is the largest phosphate exporter with 75% of the world’s phosphate reserves.
The industry has over the last ten years been successful in diversifying away from phosphates and increasing foreign investment in the nascent segments of mining.
Morocco is home to several multinational mining companies, such as the Canadian mining company Aya Gold & Silver. In 2021, the company recorded 1,6 million ounces of silver production from the Zgounder mine 260 Km east of Agadir. The company’s production reached 120% surpassing its initial estimates.
Read also: Drilling Operations Record ‘Terrific Success’ in Zgounder Mine
Australian company Kasbah Resources is also present in the country and developing the Achmmach Tin Project and the Bou El Jaj Tin Project in northern Morocco.
Western Australia topped the global list of best mining investment destinations from the think tank, followed by the Canadian province of Saskatchewan, Nevada, Alaska, Arizona, Quebec, Idaho, Morocco, Yukon, and South Australia.
The institute also had a second ranking for the mining countries that looked more in-depth at their policies and how this could affect mining.
The index looks at how policy, in particular, affects investment decisions. The survey indicated that approximately 40% of investment decisions are determined by policy factors.
The policy perception index ranked Morocco second in the world after the Republic of Ireland. Following those two countries is Northern Ireland, Western Australia, Quebec, Nevada, Utah, Saskatchewan, Finland, and Alberta.
