Morocco ranks 4th in Africa for mining investment attraction

Morocco has secured the 4th position among Africa’s most attractive countries for mining investments, surpassing nations like the Democratic Republic of Congo and Zambia.

The country’s mining sector is poised for further growth, especially with minerals such as copper, cobalt, and gold playing pivotal roles in global markets. Morocco has an ancient history of extraction of minerals for enhancing its economy. The technical know-how developed early on, particularly in the copper industry and manufacture of steel, which were spread by the Muslims of Spain and southern France to Europe.

Potential growth

Notably, Morocco holds about 75% of the world’s estimated phosphate reserves, making it the world’s largest producer of this mineral. This ranking reflects Morocco’s strategic location, advanced infrastructure, and stable legal framework, which together create a favorable environment for mining activities. Mining legislation in force includes the Mining code Bill and corresponding orders of the Directorate of Mines. The overseeing authority is the Office National de Recherches et d’Exploitations Petrolieres (Office of Research and Petroleum exploitation) under the overall jurisdiction of the Ministry of Industry, Trade, Energy, and Mines]. Mining permits and licenses are issued by the department within the framework of Mining Code. Specific organizations established to promote the mining sector are the Phosphates Cherifian Office (OCP) and the National Hydrocarbon and Mines Agency (ONHYM).

In terms of investment, Morocco has been a significant player in Africa. For instance, in 2021, foreign direct investments in Morocco reached over $800 million, positioning the country as the second-largest African investor on the continent. While challenges such as potential legal conflicts remain, Morocco’s robust investment climate and infrastructure continue to strengthen its standing in the African mining industry.