Forecasts suggest that by 2033, the mining industry in Jordan will have contributed 2.1 billion Jordanian Dinars (USD 2.9 billion) to the country’s GDP.
This ambitious goal, which is higher than the 0.7 billion dinars in 2023, is a part of the government’s recently declared ambition, as stated in the National Mining Strategy of the nation, to turn Jordan into a mining state by 2033.
As per a report published by the state-owned Jordan News Agency, popularly known as Petra, this strategic review intends to increase the sector’s value of exports to 3.5 billion dinars from 1 billion dinars and raise employment to 27,500.
King Abdullah’s orders support the plan, which arises from its “Economic Modernisation Vision” and emphasises the necessity of quickening investment-stimulating processes in mineral exploration.
Developed under the direction of the international consulting firm Wood Mackenzie, the plan was a key component of this change.
The Jordanian Ministry of Energy and Mineral Resources concluded EMV-related programmes and initiatives for the mining industry in 2023 and established goals for the executive programme of the vision.
The principal tenets of the vision centre on realising the country’s full economic potential in tandem with enhancing the standard of living for its populace and upholding environmental practices.
Additionally, the ministry’s proactive approach has resulted in the signing of eleven memorandums of understanding to increase funding for Jordan’s extractive sectors. To further these objectives, three more memorandums of collaboration were signed with other companies.
The ministry intends to push these MoUs toward value-added mining operations and keep progressing these initiatives through 2024, according to statements given to Petra. These programmes are a part of the country’s continuous attempts to improve its reputation in the mining and minerals sector.
Petra published a report earlier in January from the ministry, which stated that the goal is to capitalise on successful mineral exploration outcomes to put the nation on the map of global mining.
In the last 24 months, the government has formed multiple mining exploration collaborations with foreign businesses. Additionally, it just unveiled an investment platform to highlight possibilities and resources available nationally in the energy sector.