RIYADH: Jordan’s mining sector is set to grow substantially, with projections indicating that its contribution to the nation’s gross domestic product will reach 2.1 billion Jordanian dinars ($2.9 billion) by 2033.
Up from 0.7 billion dinars in 2023, this ambitious target is part of the government’s newly announced initiative to transform Jordan into a mining state by 2033, as outlined in the country’s National Mining Strategy.
This strategic overhaul aims to elevate the sector’s workforce to 27,500 and boost the value of its exports to 3.5 billion dinars from 1 billion dinars, according to a report issued by the state-owned Jordan News Agency, also known as Petra.
The strategy emerges from its Economic Modernization Vision and is backed by directives from Jordan’s King Abdullah, emphasizing the need to accelerate investment-stimulating procedures in mineral exploration.
A cornerstone of this transformation was the formulation of the strategy, spearheaded by the global consultancy firm Wood Mackenzie.
In 2023, the Jordanian Ministry of Energy and Mineral Resources completed initiatives and projects under the EMV for the mining sector and set priorities within the vision’s executive program.
The vision’s main pillars revolve around expediting the nation’s full economic potential while improving the quality of life for its citizens and maintaining sustainable measures.
Moreover, the ministry’s proactive engagement has led to the signing of 11 memorandums of understanding to bolster investment in Jordan’s extractive industries.
An additional three memorandums of cooperation were signed with various companies to further these goals.
According to statements made to Petra, the ministry plans to continue advancing these undertakings throughout 2024, pushing these MoUs toward value-added mining operations.
These initiatives are part of the nation’s ongoing efforts to boost its standing in the mining and minerals industry.
In a report carried by Petra earlier in January, the ministry said that it aims to position the country on the global mining map by capitalizing on positive mineral exploration results.
Over the past two years, the country established several partnerships with international companies in mining exploration.
Moreover, it recently launched an investment platform to showcase national resources and opportunities in the energy sector.
