February 24, 2014

Morocco to dedicate phosphate production unit to Africa

Morocco is to build a production unit for phosphate destined exclusively for the African market, an official said on the sidelines of a state visit of King Mohammed VI to Mali.

"Africa has more than 80% of the world's reserves of phosphate and exports the raw material to other regions, notably for the production of fertilisers," Mostafa Terrab, chief executive officer of Morocco's state-owned phosphate company OCP said.

Morocco invests heavily in Mali's banking and telecommunications sectors and is looking to strengthen its presence in agriculture, infrastructure, mining and energy.

"Mali and (Morocco) need to establish a cohesive economic collaboration and increase our trade for the wellbeing of both countries," said Amina Benkhadra, head of Morocco's National Hydrocarbons and Mining Office.