Chart usGOLD   Chart usSILVER  
 
Food for thought
Liberty means responsability. That is why most men dread it
G.B. Shaw  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1294.800.14
Silver 19.630.01
Platinum 1404.50-4.50
Palladium 794.000.00
WORLD MARKETS
DOWJONES 16409-16
NASDAQ 40969
NIKKEI 1451699
ASX 544532
CAC 40 443226
DAX 941092
HUI 220-2
XAU 90-1
CURRENCIES (€)
AUS $ 1.4804
CAN $ 1.5222
US $ 1.3812
GBP (£) 0.8225
Sw Fr 1.2201
YEN 141.4710
CURRENCIES ($)
AUS $ 1.0723
CAN $ 1.1020
Euro 0.7240
GBP (£) 0.5956
Sw Fr 0.8833
YEN 102.4270
RATIOS & INDEXES
Gold / Silver65.96
Gold / Oil12.38
Dowjones / Gold12.67
COMMODITIES
Copper 3.040.02
WTI Oil 104.590.83
Nat. Gas 4.740.21
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Mining Morocco
Published : November 21st, 2012
830 words - Reading time : 2 - 3 minutes
( 0 vote, 0/5 ) Print article
 
    Comments    
Tweet

 

 

 

 

Ouarzazate, Morocco – Its beaches fronting the Atlantic and the Mediterranean on the northwestern coast of Africa, the constitutional Kingdom of Morocco is a cacophony of colour.

Ouarzazate (pron. Wa-za-ZAT), a city of a million and half or so, is Africa's Hollywood, the taking-off point for film-makers who want to tell a pictorial story of desert life, in movies such as Lawrence of Arabia, The Man Who Would Be King, Asterix and Obelix, Kingdom of Heaven, and Babel, to name a few.

If you've ever seen a movie about World War II with desert in the background, it was probably shot out of Atlas Studios here near the casbah. Stone buildings the colour of the nearby mountain rocks rise majestically from this place. Vineyards and orchards and villages that predate the New Testament cling to verdant hillsides.

Morocco is a Muslim country, and it is a kingdom – albeit a constitutional monarchy. But you hear the words Muslim and Africa and kingdom in the same sentence, no doubt you're tempted to run like the wind. You shouldn't. It's a mellow, spectacular place where the men drink locally-made wine and women drive cars, vote, earn educations and hold high offices. It is governed by King Mohammed VI, who is still in his forties. Renault and Nissan build cars here.

Morocco escaped the so-called Arab Spring and its violence precisely because King Mohammed VI understands his country's demographics. Young unemployed males, when they've nothing to do, no money to earn, no pride to claim, are naturally going to go crazy. They are despondent and who can blame them? So they blow up an airliner in exchange from some honyock imam's promise of a better afterlife.

So the king and his elected parliament have put the kids to work. The youth are building freeways and real city infrastructures. You can sail from Casablanca on the coast to Marrakesh in the Atlas Mountains in three hours over smooth, concrete-paved freeways, and in another three hours you're in Ouarzazate. Morocco is gently corrupt. Blast through a speed-trap, the fuzz pull you over, you negotiate the fine, pay in cash, and you're outta there. No court appearance. No mark on your permanent record.

One thing Morocco is doing is opening up its prodigious silver, gold, lead, zinc and copper mineral deposits to foreign exploration and development.

Mining has been a staple of the Moroccan economy since Biblical times: mining's current contribution to the country's GDP is north of 10 per cent, primarily from its state-owned, export-intensive potash/phosphate mining. The country will fill, according to a North Carolina State University study, between 80 per cent and 90 percent of global phosphate demand through the next two decades.

Fouad Douiri, Minister of Energy, Mining, Water and Environment for the Kingdom of Morocco, told me his country is open for business when it comes to metal mining. “Morocco has a promising mineral potential, significant expertise, and a skilled and inexpensive labour force. We have undertaken a series of actions and reforms aimed at further promoting this vital sector through the encouragement of the private sector,” Douiri said.

(Morocco ranked 17th in world silver production in 2011, according to the Silver Institute. The primary source of its silver output is the 5.48-mil/oz/year Imiter mine, ranked as the world's 14th-largest silver producer. But there are many more coming on line, including Canadian junior Maya Gold & Silver's Zgounder silver mine, discovered in the third century AD.)

Maya's CEO, Guy Goulet, a delightful French-Canadian chap, observed on our trip through the Atlas Mountains: “Today, there are one or two Canadian exploration companies down here. Next year there will be two dozen.” I improperly overheard from others that mining billionaire Tom Kaplan, new owner of the Sunshine silver mine, is one of the tire-kickers.

Morocco has a unique and enduring relationship with the United States. It was the first nation to recognize U.S. sovereignty, in 1777, and the Moroccan-American Friendship Treaty is the United States' oldest, signed in 1786 by Thomas Jefferson, John Adams and Sultan Muhammad III. The treaty granted Moroccan cover to the fledgling U.S. merchant marine service under attack from Libyan pirates launched from the infamous Barbary Coast.

The U.S. and Morocco entered into a free trade agreement on June 15, 2004. Shares in Morocco's mining companies have traded on the Casablanca Stock Exchange since 1929.

Morocco ducked the violence of Arab Spring, and hasn't sent any shoe- or underwear-bombers our way. It's because when the young men of Morocco are blowing up silver-bearing rocks for a decent living, they don't feel the need to blow up buildings, airliners and themselves.

Mining to the rescue, once again. People didn't crawl through 1,000 miles of broken glass to get a tan on Coeur d'Alene Lake 120 years ago. They came here to work and to find wealth. That should be a lesson for the current nose-picking architects of our own economic woes and the authors of the desperation of our youth.

 

 

Data and Statistics for these countries : Morocco | All
Gold and Silver Prices for these countries : Morocco | All
Tweet
Rate :Average note :0 (0 vote)View Top rated
Previous article by
David Bond
All articles by
David Bond
Next article by
David Bond
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
MOST READ
TOP RATED
MOST COMMENTED
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

David Bond

David Bond covers gold and silver mining equities for a number of national and international publishers from Wallace, Idaho, heart of the planet's richest silver fields, the Coeur d'Alene Mining District.
David Bond ArchiveWebsiteSubscribe to his services
Most recent articles by David Bond
3/27/2014
3/27/2014
3/20/2014
3/17/2014
3/13/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer