MOROCCO OCP: British sniffing out opportunities

 

 

UK Trade & Investment, the agency that scouts for business abroad for British companies, has drawn attention to an investment program launched by Morocco’s Office Cherifien des Phosphates that could be worth a cool €9 billion. OCP recently raised €175 million in a first-ever bond issue that was oversubscribed to the tune of €1.2 billion.

 

The money will contribute towards OCP’s wider, 10 year expansion program aimed at: upgrading the Khouribga and Benguerir mines (€2,2 billion: a contract has been put out to tender for scouring and re-processing Benguerir’s tailings; on installing new chemical plants (€3.5 billion); and in building up the Jorf Lasfar phosphates hub (€1.2 billion) along with other infrastructure such as a minerals pipeline (€500 million).

 

Morocco’s biggest company, Office Cherifien des Phosphates stands in the front line on the world market for phosphates and byproducts. The group is the world’s leading exporter of raw phosphate and phosphoric acid and a top exporter of phosphate-based fertilizer.

The company is currently capitalizing on an increase in demand for fertilizer stemming from a surge in farm product prices. It hopes in the coming five years to boost its output by 66%, to 50 million tons per annum.

 

OCP wants to get more out of operations

According to sources in the mining services industry, Morocco's Office Cherifien des Phosphates (OCP) has issued a call for bids for feasibility studies on optimizing all of its mining operations (reducing costs, improvement or change in ore extracting procedure, etc. (...)  

 

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