Casa Blanca, Morocco — MININGREVIEW.COM — 13 October 2008 – The world’s leading phosphate exporter – Office Cherifien de Phosphate (OCP) – plans to invest more than US$12 billion (R100 billion) to expand its output and world market share.
Reporting from here, Reuters quotes OCP chief executive Mostafa Terrab as saying the investment would come in successive waves over the next seven to eight years to meet higher world market demand in the next cycle of growth.
Terrab told a news conference that part of the money would go to upgrade OCP’s production capacity – including opening new mines and transport pipeline – while other investments would involve ventures with investors from Brazil, the European Union, India, Libya and Pakistan.
He said OCP has opened its Jorf Lasfar phosphate hub to foreign investors. The company’s Jorf Lasfar phosphate hub is located outside Casablanca, and has a port site with a capacity to accommodate vessels carrying up to 100,000 tonnes.
“The investment is part of OCP’s strategy to remain a strategic player in the phosphate market, and bolster its position as a world market leader,” Terrab added.
OCP records claim that the company has 45.5% of the lime phosphate world market, 49% of phosphoric acid and 12% of fertilisers.
It is the third biggest phosphate producer in the world with 28 million tonnes per year behind China and United States, but largest phosphate exporter with 31.6% market share.
“To remain world leader,” he said, “OCP has to expand output, lower costs and have spare capacity to be ahead of the competition, including market newcomers.”