Latest news with #internationalCompanies
Zawya
6 days ago
- Business
- Zawya
Iraq eyes mining sector to support economic diversification efforts
Iraq is planning to develop its untapped mining sector as part of its broader economic diversification strategy, a top government official said. Mudher Muhammad Saleh, financial advisor to the Iraqi Prime Minister, told the Iraqi News Agency (INA) the government has signed memorandums of understanding with international companies to explore and develop key mineral resources, including phosphate, sulfpur, lithium, and copper He said the total value of Iraq's natural resources is estimated at more than $16 trillion, adding that the mining sector is expected to contribute at least 10 percent to Iraq's GDP during its initial development phase. Key mineral resources Phosphate: Iraq ranks second worldwide, holding over 10 billion tonnes of phosphate reserves, located mainly in the Akashat area of Anbar province. Sul ph ur: The Mishraq area in Nineveh Province is home to one of the world's largest free sulphur fields. Silica: Najaf and western Iraq have high-purity silica deposits. Iron, manganese, copper, and gold deposits in the Kurdistan Region, western Iraq, and central Iraq. Rare minerals in southern Iraq (Writing by Majda Muhsen; Editing by Anoop Menon) (
Zawya
03-06-2025
- Business
- Zawya
28 global companies express interest in $1.5bln Casablanca airport expansion
A total of 28 international companies have expressed interest in the expansion project for the Mohammed V International Airport in Casablanca Local Arabic language news website said expressions of interest were received from 4 local companies, 14 Chinese companies, 5 Turkish companies, and 1 company each from Spain, Egypt, India, Greece, and Switzerland. EOI was issued by Morocco's National Airports Office (ONDA) for the construction of a new terminal area at Mohammed V Airport. The report said the planned new terminal will cover 450,000 square metres (sqm) with an annual capacity of 20 million passengers. It will also include: • A new 3,700-metre parallel runway, 45 metres wide • Associated taxiways and airside infrastructure • A 42-metre-high air traffic control tower • Expanded aircraft parking stands • A hotel The estimated investment cost of the project is 15 billion Moroccan dirhams (approximately $1.5 billion) with completion scheduled for 2029 in time for the FIFA World Cup, which the North African country is co-hosting alongside Spain and Portugal in 2030. The new terminal will be integrated with the national high-speed rail network connecting Kenitra to Marrakech. (Writing by Majda Muhsen; Editing by Anoop Menon) (
Yahoo
17-05-2025
- Business
- Yahoo
Guinea cancels licences of up to 53 mining companies amid resource nationalism
Guinea has cancelled the licences of up to 53 mining companies, signalling increased resource nationalism, reported Reuters, citing government sources. The trend of resource nationalism in the region follows military coups in countries such as Niger, Mali and Burkina Faso since 2020. The cancelled licences span a range of operations including bauxite, gold, diamond and graphite. However, industry insiders suggest that none of the companies involved are significant producers within Guinea's mining sector, which is primarily dominated by large international companies. The reasons behind the revocation of licences have not been disclosed by the government, nor has there been any indication as to whether larger mining operations could face similar actions. A source from the mines ministry hinted: "We have been working for some time on cleaning up the land registry. We can say that this falls within the same framework." Guinea is renowned for having the world's largest bauxite reserves, a vital component in aluminium production, and is also a significant exporter of gold and iron ore. In 2024, the country exported approximately 146.4 million tonnes (mt) of bauxite, according to a notice from the Mines and Geology Ministry on LinkedIn. Despite the revocation of licences, major bauxite producers in Guinea are expected to mine more than 200mt this year, a 35% increase from the previous year's record figure. While the cancellation of licences aligns with regulatory practices, it could also be perceived as a cautionary message to mining operators, the report stated. Earlier this month, Guinea commenced the process to revoke Emirates Global Aluminium's mining licence in the country. "Guinea cancels licences of up to 53 mining companies amid resource nationalism" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
