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 Economists: Mineral investment maximizes the country's resources DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Economists: Mineral investment maximizes the country's resources

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 Economists: Mineral investment maximizes the country's resources Empty Economists: Mineral investment maximizes the country's resources

Post by claud39 Wed Mar 11, 2020 8:58 am

 Economists: Mineral investment maximizes the country's resources


 Economists: Mineral investment maximizes the country's resources 19400

Economy News _ Baghdad

Specialists in the economic affairs called for the necessity of investing mineral extraction to diversify the country's financial resources, stressing the importance of getting rid of the rentier economy, while the Economic and Investment Committee explained the reasons for not approving the mineral investment law in the House of Representatives.

Member of the Parliamentary Economy and Investment Committee Nada Shaker Jawdat said in a statement to "Al-Sabah" and was seen by "The Economy News", that "the Iraqi economy is rentier and depends on oil only, pointing out that oil problems are many, as there are fluctuations in oil prices because they are affected by economic, political and security aspects ".

She added, that in the event of an escalation in the Gulf region or the Mediterranean, it will affect oil prices and consequently the Iraqi economy will be affected, stressing the importance of thinking to find alternatives to the economy through diversification of its resources, as Iraq possesses natural resources of minerals and others that are still not utilized properly.

 She stressed "the necessity of investing minerals in the underground in an optimal way, as well as taking advantage of oil recovered in the manufacturing industries," noting that "Iraq, instead of selling oil for 40 to 60 dollars, can sell it in thousands of dollars if the manufacturing and petrochemical industries are supported." And she continued to date Iraq imports energy and even most of the oil derivatives, despite the extraction of large quantities of oil, noting that the importance of benefiting from Iraqi oil in the petrochemical industries.

She indicated that "there is a mineral investment law prepared by 95 percent within the Economic and Investment Committee and it will be ready to vote during the upcoming sessions," noting that "
She stressed, "The minerals in Iraq are good. When they are invested, they will make a lot of money, pointing out that the Iraqi sand itself is considered a great economic wealth."
Metal Industry

"Iraq presented many investment opportunities in the field of mineral industry, as there are many investment opportunities for construction and mining industries in Iraq, where many mineral ores and industrial mineral ores are located in different regions of Iraq.

The Iraqi Geological Survey is the government agency concerned The mineral investigation and exploration of these minerals is also the authority responsible for implementing the Mineral Investment Regulation Law No. 91 of 1988 amending, and the Iraqi Geological Survey Authority presents a number of investment opportunities for investment, including phosphates, free sulfur , Sulfates, silica sand, red clay and brick clay, among others.

Free sulfur is present in the governorates of Nineveh and Salah al-Din, where sulfur is found in the rocks of the opening of the hole (middle myosin) within the sequences of the limestone, gypsum, and marl in the region extending from the east to the hole.

The composition of the Al-Mishraq
shows sulfur in the form of nests, bundles of calcite, and coral material in about twelve domes, the most important of which are the installation of Al-Mishraq and Al-Zazaqah in Nineveh and the installation of an alcohol in Salah al-Din.

The proven and calculated reserves are estimated at (600) million tons of free sulfur, of which 60% is soluble and extractable by (bedding) method.

As for the phosphate deposits, they may be found in Al-Anbar Governorate in the Western Desert region to the west and northwest of the city of Rutba, near the Iraqi-Syrian border.

The deposits of phosphate ore are found in three configurations, namely, formation of Akasadate (Paliocene), formation of the murky (Eocene), and formation of dikma (Late Cretaceous).

 Natural resources

to that, stressed the economic expert Ahmed Al-Majdi, "the need to give importance to investing Iraqi natural resources and minerals in a manner that ensures the achievement of significant financial resources for the 

Al-Majidi said in a statement to "Al-Sabah" that "the Ministry of Industry and Minerals has to offer investment opportunities in front of international companies to invest minerals as Iraq has many types of minerals such as sulfur, phosphates, salt, sand, clays, etc., indicating that these minerals are still hidden and not well invested." ".

He added that "the investment of minerals needs an integrated law that is legalized within the House of Representatives," pointing out that there is a law in this regard that still has some political differences that prevented its passage during previous parliamentary sessions.

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