ECONOMY

Mines: Phosphate exports doubled in H1 2022

ALGIERS-The Minister of Energy and Mines, Mohamed Arkab said Sunday in Algiers that the volume of phosphate exports had doubled in the first half of 2022, reaching 955,000 tons, i.e. DZD14 billion.

Arkab said in his presentation before the Committee on Finance and Budget of the People's National Assembly (Lower House), as part of the review of sectoral budgets under the Finance Bill 2023, that the first data in the first half of 2022 showed "an increase in the production of phosphate (9%), iron (14%), marble (10%) and calcium carbonates (3%)."

The research and exploration program has been implemented through 26 projects across the country, with a budget worth DZD1.82 billion, he said.

As for artisanal gold panning, he recalled that the number of licenses issued to micro-enterprises had reached 175, including 89 in Tamanrasset and 86 in the region of Djanet.

Referring to the structuring projects, Arkab stated that the opening of the iron deposit of Ghara Djebilet aimed at extracting 200,000 tons of ore by the end of the first half of 2023, while continuing the development of zinc in "Oued Amizour" by recovering 16% of the shares from the Australian partner "Terramin", to control the company and carry out the studies.

Regarding the integrated phosphate project, the minister reported: "the ongoing development of all studies and specifications to select the investor and seek funding in collaboration with Chinese banks."

Besides, Arkab said that the volume of hydrocarbon exports hit 69.1 million TOE at the end of September 2022, recording revenues worth US$42.6 billion against US$24.1 billion in 2021, up by 77% thanks to the rise in oil and gas prices.

The minister also reported a 108% hike in revenues from oil taxation which amounted to DZD3,856 billion at the end of September 2022, against DZD1,857 billion dinars during the same period of 2021, covering 120% of the value of oil taxation recorded in the Supplementary Budget Act 2022, i.e. DZD3,212 billion.

"Imports of petroleum products dropped by 18%, compared to 2021 as the local demand for gasoline and diesel has been met after rehabilitation and improved performance of refineries, "said the minister.