Rabat - A group of international experts said on Thursday that Morocco is qualified to produce phosphates for the next 700 years.
Speaking at the third edition of Mines and Quarries exhibition in Casablanca, experts said that Morocco's production of phosphates is capable of meeting the needs of the world's economy for about 700 years, adding that by adopting the latest technologies, Morocco will be able to reduce production costs in the future.
The experts added that Moroccan phosphates will provide the world with food in the coming years, since phosphorous is used to make fertilizers which are essential component of modern farming.
The largest deposits of phosphate are located in Morocco. The kingdom dominates 50 percent of phosphate market in the world with a production capacity estimated at 30 million tons per year.
Morocco is also planning to reach a production capacity of 40 million tons per year by 2020.
The world’s largest deposits of phosphate are located in Morocco, with a production capacity estimated to 19 million tons per year.
The Cherifian Office of Phosphates (Office Cherifian des Phosphates, OCP), which was founded in August 7, 1920 in Morocco and transformed into a joint-stock company (OCP) in 2008, is the world’s largest exporter of raw phosphate, phosphoric acid and phosphate fertilizers.