Iraq is turning its attention to the largely untapped mining sector as part of a broader strategy to diversify its economy, according to a senior government official.
Mudher Muhammad Saleh, financial advisor to the Iraqi Prime Minister, told the Iraqi News Agency (INA) that the government has signed several memorandums of understanding (MoUs) with international firms to explore and develop key mineral resources, including phosphate, sulfur, lithium, and copper.
Saleh revealed that the total estimated value of Iraq’s natural resources exceeds $16 trillion. He added that during the early stages of development, the mining sector is expected to contribute at least 10% to the country’s gross domestic product (GDP).
Key Mineral Resources:
Phosphate: Iraq ranks second globally, with more than 10 billion tonnes of reserves, primarily located in the Akashat region of Anbar Province.
Sulfur: The Mishraq site in Nineveh Province hosts one of the largest free sulfur fields in the world.
Silica: High-purity silica deposits are found in Najaf and western Iraq.
Metals: Deposits of iron, manganese, copper, and gold are located in the Kurdistan Region, western Iraq, and central parts of the country.
Rare Minerals: Southern Iraq is believed to hold reserves of rare minerals.
(Source: Zawya Projects)
