Morocco's mining report

The Kingdom of Morocco, with coasts on the Atlantic as well as the Mediterranean, is home to over 90mining companies producing 20 different mineral products. The economically vital mining sector isdominated by phosphates, which account for 92% of mineral production. Other metals and minerals -including lead, zinc, copper, iron, fluorine, silver, manganese, cobalt, antimony and salt - are alsobeginning to grow in significance. Silver is produced in substantial amounts and is primarily sourcedfrom the Imiter mine located in the Oriental Anti Atlas. Morocco also hosts cobalt at the Bou Azzerdeposit, which is the world��s only primary cobalt deposit.

All mineral resources are theproperty of the state, which issues permits and licences for the exploration and exploitation of theresources. The current mining legislation in Morocco is based on the Mining Law (1951) and is enforcedthrough executive orders and the Directorate of Mines. Under the law, a mining company may set up atax-exempt reserve fund of up to 50% of the fiscal profits for exploration and development investment.