AMMAN — Corporate executives in the mining sector
highlighted the Kingdom’s immense potential for contributing to the nation’s
economy. The sector, they said, could promote growth, job creation, global
competitiveness, and industry diversification.
اضافة اعلان
During the fourth annual conference for French-Speaking
Business Owners, held in the Dead Sea, the “Investment Horizons in the Mining
Sector” panel, industry experts project a thriving mining sector in the near
future.
They anticipate increased demand from industrial,
agricultural, and technology-driven sectors to fuel this growth, according to
the Jordan News Agency, Petra.
The Kingdom’s mining sectorCurrently, the mining sector contributes 2.2 percent of the
GDP, amounting to JD700 million, with expectations of reaching JD2.1 billion
within the next decade.
With over 9,000 current employees, it accounts for 0.6
percent of the Kingdom’s workforce.
Projects suggest that this number will surge to 27,000
employees over the next ten years.
Meanwhile, sector exports currently stand at approximately
JD1 billion with an expectation to increase up to JD3.4 billion, in line with
the vision for economic modernization.
The conferenced, organized by the Jordanian Businessman
Association, in collaboration with a consortium of French-speaking
entrepreneurs, gathered 200 people from various fields, such as business,
investment, and economic experts.
Local, regional, and global companies were also represented.
Abundant minerals and natural resourcesAbdul Wahhab, CEO of the Jordan Phosphate Mines Company
(JPMC), emphasized the significant role of the mining sector as one of Jordan’s
largest industries, making substantial contributions to the national economy.
He said that the Kingdom has an abundance of mineral and
natural resources, particularly phosphates. He added that the 60 percent of
JPMC’s output is earmarked for exported, while the rest is used by local
enterprises.
Rawad outlined the company's objectives, which include
boosting domestic consumption through manufacturing industries and expanding
within the country.
He expressed that the company’s intention is to establish
partnerships and leverage investment opportunities, specifically with Turkey
and India, highlighting the significant investment potential in the Kingdom’s
unique phosphate sector.
Rawad expressed confidence in Jordan's potential to achieve
global recognition in various industries, especially phosphoric acid
production. He mentioned a study on forming a joint manufacturing company with
the Arab Potash Company and committed to launching the aluminum bromide
project.
Environmental considerationsThe CEO highlighted the company's strong focus on
environmental considerations, citing the JD32 million rehabilitation of the
Rusaifa mines into gardens and the restoration of the gypsum mountain in Aqaba.
Rawad acknowledged the high-water consumption in the
phosphate washing process and revealed plans to establish a water recycling
project for use in the company's other industries.
Participants emphasized the need to incentivize investment
in the mining sector, given the abundant mineral resources and the importance
of energy price reviews and incentives.
A 10-year planMaen Ensour, CEO of the Arab Potash Company, confirmed the
mining sector's significance in the vision for economic modernization.
He noted ongoing collaboration between sector companies and
the Ministry of Energy and Mineral Resources to develop a ten-year plan aimed
at elevating companies' contributions to the national economy and
profitability.
Ensour discussed the pivotal role of Jordanian mining
companies in enhancing the national economy, improving living standards,
creating employment opportunities, fostering regional and global
competitiveness, and developing human capital.
He disclosed plans by the potash company to generate
knowledge, develop products, manufacture new ones, and enter new markets,
considering that Jordan ranks sixth globally in potash production.
Ensour shared the company's intentions to establish a chemical
and fertilizer research center in partnership with an American university and
attract Jordanian expertise in the field. The project is expected to be
completed within two years.
The CEO emphasized the company's current focus on high-value
industries and the upcoming announcement of advanced industries relying on
local raw materials.
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