Jordan Eyes Exploitation Of Mineral Wealth For Robust Economic Growth

(MENAFN- Jordan News Agency)

Dead Sea, Aug. 26 (Petra) -- In a bid to galvanize the nation's economic growth, Saleh Kharabsheh, Minister of Energy and Mineral Resources, underscored the immense potential of the Kingdom's mining sector on Saturday. He elucidated that Jordan's mineral-driven vision isn't limited merely to phosphates and potash.
At the "A Year on Modernization" forum, during the panel "High-Value Industries - Mining", Kharabsheh elaborated on Jordan's strategic location within the Arab-Nubian Shield – a zone globally renowned for its rich mineral reserves.
The minister revealed a myriad of agreements inked with international entities to assess the economic feasibility of numerminerals, emphasizing the spotlight on rare earth elements and strategic minerals.
Bolstered by royal directives, the Jordanian government is ardently channeling resources and foon mineral extraction, aiming to optimize the potential uplift it can provide to the nation's economy.
Kharabsheh assured that efforts are underway to fuel the nation's industrial sector with a consistent supply of natural gas and hinted at possibilities of launching an ammonia plant.
Unveiling government endeavors, he highlighted initiatives like the formulation of a national strategy for mining, geological studies, and well-drilling for sample collection and analysis.
The past year saw the endorsement of 13 Mspanning exploration projects for copper, gold, lithium, phosphate, rock potash, and rare earth ores.
Echoing the vision, Maen Ensour, CEO of the Arab Potash Company, affirmed that economic growth remains paramount, dictating the company's overarching strategy.
He sketched out prerequisites like competitive energy and water supplies, robust governance, cutting-edge infrastructure, capacity-building, and expansive distribution networks for the company's impending growth initiatives.
Dr. Ensour spotlighted the company's endeavors in the global lithium market, with advancements in lithium concentration processes that can potentially revolutionize lithium extraction from the Dead Sea.
Collaborative overtures with the Ministry of Energy are already in the pipeline to explore lithium extraction possibilities.
He expanded on the pivotal role of ammonia, emphasizing its global demand in fertilizer and chemical sectors, and highlighted the strategic approach to establish nitrogen industries that synergize with the potash and phosphate sectors.
In the same vein, Abdel Wahhab Rawad, CEO of the Jordanian Phosphate Mines Company, recounted the company's global achievements and the stellar growth trajectory. Remarkable feats included record production figures, along with strides in phosphoric acid production.
Rawad also alluded to ambitiexpansion plans that sync with the vision of economic modernization, hinting at potential job creation prospects.
Emphasizing Jordan's privileged global positioning, Rawad hinted at the country's ascendancy in yellow phosphoproduction. However, he conceded that daunting challenges like high energy costs loom large for investors.
Oryx Management's CEO, Ayman Ayyash, mirrored sentiments around maximizing Jordan's mineral reservoir. Celebrating the nation's geographical blessings, Ayyash championed the broad-spectrum exploitation of a variety of minerals, including gold, copper, lithium, and uranium.
The narrative that emerged was unequivocal - the mining sector is poised to be Jordan's economic powerhouse, fueled by a shared vision of innovation, strategic collaborations, and unwavering commitment to growth.
The nation's vast mineral resources offer a lucrative pathway to fortify its economic fabric, promising a brighter, prosperfuture.


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