Mining output is 6% of Moroccan GDP

Mining contributes six per cent to Morocco's gross domestic product (GDP) and employs more than 34,000 people, said, here Tuesday, the Moroccan Minister of Energy and Mines.

Speaking at an international seminar sponsored by the "UK Trade and Investment" agency, Mohamed Boutaleb, who made a presentation on Moroccan mining potentials and investment incentives, said mining investments reached US$ 343 million in 2004.

On existing mineral wealth, Boutaled said Morocco boasts the largest silver mine in Africa and the biggest baryte output.

The Moroccan mining minister said the country's economic choices and the progress made in developing infrastructures help the North African country attract substantial investments.

The privatisation process, started in Morocco in early 1990s, helped cede to the private sector almost all the enterprises working in the mining field, said Boutaled adding the draft Mining Code, which will be submitted to the Parliament, is meant to take up various challenges and attract investments.

The Moroccan official also pointed out to the important mineral fields in Morocco, which are still untapped, adding the country carried out several investment projects in African countries including Niger, Ghana, Mauritania and Burkina Faso.

He stressed that the free trade agreements signed by Morocco with the United States, the European Union, Egypt, Tunisia and Jordan are key elements that make of Morocco an important link with Africa.