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Morocco Mining Report Q1 2010
Business Monitor International, Jan 2010, Pages: 44
Morocco Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Morocco's mining industry.
Country Overview
The Kingdom of Morocco is home to over 90 mining companies producing 20 different mineral products. The economically vital mining sector is dominated by phosphates, which account for 95% of mineral production. Other metals and minerals – including: lead, zinc, copper, iron, fluorine, silver, manganese, cobalt, antimony and salt – are also beginning to grow in significance. Silver is produced in substantial amounts and is primarily sourced from the Imiter mine located in the Oriental Anti Atlas. Morocco also hosts cobalt at the Bou Azzer deposit, which is the world’s only primary cobalt deposit.
The Office National des Hydrocarbures et des Mines (ONHYM) is the primary agency responsible for the exploration and promotion of national mineral resources. The other major state-owned organisation governing the mining industry is the Bureau de Recherches et de Participations Minières (BRPM), which is responsible for the development of most minerals found in Morocco. All mineral resources are the property of the state, which issues permits and licences for the exploration and exploitation of the resources. The current mining legislation in Morocco is based on the Mining Law (1951) and is enforced through executive orders and the Directorate of Mines. Under the law, a mining company may set up a tax-exempt reserve fund of up to 50% of the fiscal profits for exploration and development investment.
Latest News In December 2009, the Maghreb Arabe Presse (MAP) reported that the Moroccan mining sector remained under pressure, largely due to a fall in ‘non-metallic mineral activities’. At the end of September 2009, figures released by the country’s High Planning Commission showed that the mining sector had actually contracted by 9.9% year on year (y-o-y) during the second quarter of the year, a time when the global economic crisis was still dominating the headlines.
New Data For 2010, the authors have made significant changes to the way in which we forecast mining data. As well as using local statistics agencies and associations, we now also draw on the expertise of the UN’s Industrial Commodity Statistics Database, the US Geological Survey and the World Bureau of Metal Statistics for our historical export and production data. We then forecast this data using our own proprietary econometric model. Human intervention also plays a necessary and desirable role in our mining forecasting; experience, expertise and knowledge of industry trends and developments ensuring that we can spot likely future changes and anomalous data that a purely mechanical model would not.
Industry Forecast
The Moroccan mining industry is dominated by phosphates, which accounted for 95% of total output in 2008. This industry is also in turn dominated by state-run OCP. Beyond phosphates, the country also produces manganese, lead, zinc, copper and cobalt. We are broadly favourable on the outlook for Morocco’s mining sector over our forecast period to 2014 and we forecast an average annual growth rate of 4%. In particular, tin might prove to be an increasingly key commodity for Morocco, if Kasbah Resources decide to commission a mine in the years ahead.
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