Morocco’s investments in the mining sector exceeded 13 billion Moroccan dirhams ($1.14 billion) in 2021, Morocco World News reported, citing data shared by Minister of Energy Transition and Sustainable Development Leila Benali.

The investment budget includes MAD12 billion dedicated to phosphates, she said, adding the sector’s contribution to national exports was 26 percent in 2021 or MAD86 billion ($8.23 billion).

The mining sector turnover reached nearly MAD100 billion ($9.57 billion) last year.

The total volume of mining production reached 41 million tonnes, including 38 million tonnes of phosphates.

Morocco holds 75 percent of the world’s phosphate reserves, the newspaper said.

(Writing by P Deol; Editing by Anoop Menon)