Moroccan mining sector posts higher revenues
The Moroccan mining sector netted a turnover of MD4.64 billion ($1 = about MD9) for the first quarter of 2004, say a rise of 7.7% compared to the same period in the previous year.
According to figures released by the Moroccan "Direction des Mines," the output of the sector was 6.64 million tons of minerals, including 96.6% of phosphates. At the end of March, phosphates ore production posted an 11.4% increase compared to the same period of 2003, which is 6.4 million tons of phosphates.
Total phosphates sales reached 6.18 million tons, earning MD1.54 billion, of which MD862 million from exports with a volume of 2.9 million tons, representing a 3.4% rise in volume and a 7.2 % decline in value.
The production of phosphoric acid amounted to 813,000 tons, increasing by 18.2%, of which 475,000 tons were exported.
The Asian market received 47,000 tons of Moroccan phosphates sales, which is 50% of total sales, Europe consumed 30% and the United States 11%. Just 7 % of the phosphates were sold in the local market.
Solid fertiliser production amounted to 655,000 tons, posting a 2.9% drop, while fertiliser sales amounted to 618,000 tons netting MD1.12 billion, including MD927 million of exports or 501,000 tons. Exports dropped by 21.4% in volume and 7.9% in value. (menareport.com)
© 2004 Mena Report (www.menareport.com)