In commemoration of the one year anniversary since the
launch of the visionary economic modernization and public sector transformation
initiatives, the government convened a forum titled “
A Year of Modernization”.
The event took place at the
King Hussein Bin Talal Convention Center, spanning
two days to reflect upon the accomplishments within both programs. The
decision-makers in Jordan, led by His Majesty
King Abdullah II and His Highness
Prince Al-Hussein bin Abdullah II, the Crown Prince, have evinced their
resolute intent to execute the vision meticulously and monitor its progress
ardently.
اضافة اعلان
The inaugural phase of the executive blueprint, spanning
from 2023 to 2025, featured a multitude of initiatives and priorities across
various sectors. One of the main
EMV’s drivers is the “
High-Value Industries”,
which contains 9 sectors and 104 initiatives. This driver steers the
implementation of future strategies to advance Jordan's industrial economy,
turns Jordan into a major industrial hub for the region, and transforms the
Kingdom into an export hub.
Jordan's mining sector is on an upward trajectory, driving
the growth of high-value industries within the country, focus is placed on
building integrated
mining value chains, driving productivity and innovation,
and realizing synergies across Jordan's industrial portfolio by seamlessly
connecting sectors in terms of catalyzing local production, broadening export
horizons, and its aptitude for attracting substantial investments to ensure
economic viability, bolster
Jordan's stance in manufacturing and extractive
sectors, and meet the burgeoning demand for industrial, agricultural, and
technology associated products.
The sector’s contribution to
national exports stands at a
formidable 23.3 percent, poised to elevate further to comprise a quarter of
industrial exports. The mining industry's products span 55 global markets,
amounting to JD1.88 billion in value within the past year. The sector ranks
prominently in total investment volume, with over 97 operating establishments
amassing approximately JD2.23 billion and engaging around 8.6 thousand workers.
Jordan possesses a distinctive advantage within the realm of
mineral industries. The nation is endowed with mineral treasures, including
phosphate and potash ores, propelling its global ranking to the seventh and
twelfth positions respectively in terms of reserves. Beyond this, an array of
industrial rocks such as silica sand and potential mineral resources like
uranium, copper, gold, zircon, rare and critical earth elements, basalt, pure
limestone, and substantial oil shale ore deposits.
The potential of Jordan's minerals can wield a momentous
influence in satisfying future mineral requisites, enhancing value chains,
supplying critical minerals, and propelling conscientious and sustainable
mining practices. This potential can engender holistic development,
transforming mining zones into integrated centers for green mineral production.
The mining endeavor entails catalyzing collaborative
undertakings between public and private sectors to establish Jordan as a
regional hub for premium high-value products. With a vision to triple the
mining sector's contribution to the
gross domestic product (GDP), Jordan
aspires to amplify economic indicators, boosting exports by a staggering 10.5
percent annually. The goal is to reach a noteworthy $5 billion by 2033,
generating 27,000 job opportunities in the process.
Jordan places a high priority on
environmental sustainability within its mining operations. In line with this commitment, the
kingdom has instituted rigorous environmental regulations and adopted practices
aimed at mitigating the environmental consequences of mining activities. These
sustainable mining practices serve a dual purpose:
safeguarding the environment while also bolstering the mining sector's endurance and viability.
Central to this discourse is the commercial viability of
hydrogen applications. The focus hinges on curtailing green hydrogen costs,
expanding its utilization in tandem with carbon reduction in the mining and
green minerals sector, promoting clean energy in industry, and fostering
concerted efforts in exploration, human capital planning, and research and
development.
Despite its promising potential,
Jordan's mining sector faces challenges that include water scarcity, energy costs, gas connections,
and global market fluctuations. The country's efforts to diversify its economy
beyond mining are geared towards mitigating these challenges. Developing
value-added industries that capitalize on the extracted minerals, such as
fertilizer manufacturing and chemical production, can bolster economic
resilience.
Jordan's mining sector is no longer just a historical
footnote but a vibrant and forward-looking industry that contributes
significantly to the nation's economy. Through the extraction of valuable
minerals like phosphate and potash, it not only generates revenue but also
supports high-value industries, technology adoption, and sustainable practices.
As Jordan continues to balance its rich heritage with modern economic
development, its mining sector stands out as a key driver of progress and
prosperity.
Hamzeh S. Al-Alayani is a Jordanian public-sector government
investments management company board member and a regular regional energy and
industrial commentator. Hamzeh holds an MBA from the University of Aberdeen,
UK, and a BSc in Mechanical Engineering.
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