Jordan has approved a 30-year agreement with Wadi Araba Minerals Company for copper mining in the country’s southern region. The deal grants mining rights over a 25 sq km area, with all extracted raw materials to be processed locally in a bid to maximize national economic returns, according to The Jordan Times.
Check out our BLOG on : Mining: Where Will the World Turn for Its Essential Raw Materials?
The agreement is part of a broader strategy to end the export of unprocessed copper. Plans also include the establishment of a public shareholding company, with a portion of its shares to be listed on the local stock exchange, though further details were not disclosed.
Government revenues from the project will be tied to global copper prices.
In March, Jordan opened several mining sites to investors in the Southern Aqaba region as part of efforts to expand its mining sector. The country aims to increase the sector’s contribution to GDP from JOD 700 million ($980 million) in 2024 to JOD 2.1 billion ($2.9 billion) by 2033, according to the Energy and Mineral Resources Ministry.