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Experts: We lost billions of resources due to lack of seriousness in investing in natural resources
Economical 11/06/2023
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Baghdad: Ali Muwafaq
Experts in the field of geology have warned that if the sulfur and phosphate production fields are stopped and the rest of the mineral elements and resources spread in most governorates, especially in the western region, Iraq will lose billions of resources that could be an alternative or a major support for oil wealth.
The head of the Iraqi Geologists Syndicate, Saad Obaid, said during a symposium entitled (Mineral wealth is a support for the national economy and an alternative to oil wealth), which was attended by “Al-Sabah”: The union is trying to shed light on the issue of mineral wealth and invest it in an optimal way, as it is an important tributary to the national economy, as it can save millions of dollars. It contributes to reviving the national industry if exploited correctly.
He added that the aim of the symposium is to urge decision-makers in the country to pay attention and develop this wealth in an attempt not to make Iraq an oil station only while adding material value to this wealth, in addition to focusing on the importance of localizing the mineral industry in the country. He stated that the union calls on the government to support the Geological Survey to carry out its work and invest and explore this wealth in an effort to truly benefit from it, as well as to learn about the experience of Saudi Arabia, which has allocated millions of dollars for mineral exploration.
For his part, geological expert Dr. Khaldoun Subhi Al-Bassam told Al-Sabah: Iraq possesses quantities amounting to 600 million tons of free sulfur, 60 percent of which is extractable, as production did not exceed one million tons annually and there is no serious move to reactivate the Mishraq and Al-Lazza fields in Nineveh Governorate.
He continued that Iraq also has a wealth of phosphate in the Akashat region in Anbar Governorate, where available industrial reserves are estimated at 10 thousand million tons, and production does not exceed, in the best circumstances, two million tons annually from one site that has been out of work for years.
Al-Bassam stated that Iraq stands behind Morocco in phosphate reserves, but this is not the entire reserve. If exploration work continues, it is possible to find larger quantities. He stated that there are natural elements and resources that Iraq possesses in large quantities, and they are used in important industries, including sedimentary iron, amounting to 60 million tons, which is used in the cement industry, and sodium sulphate, amounting to 22 million tons, which is used in the manufacture of vegetable oils and glass, but its factory is out of service, and investigations are underway. It indicates that there are 8 thousand million tons of untapped limestone in the governorates of Anbar, Muthanna, Najaf, and the Kurdistan Region. He pointed out that the Western Desert contains an amount of 7 thousand million tons of silica sand, while production does not exceed 50 thousand tons annually, as it is used in the manufacture of glass, ceramics, refractories, and modern silicon industries, in addition to the presence of 16 million tons of quartz in Anbar, and quantities of lead and copper in Dohuk and Sulaymaniyah are not yet exploited. The symposium came up with recommendations that included the importance of developing a strategy for mineral investment policy and opening the way for the private sector and international companies to carry out mineral exploration operations due to the government’s lack of serious desire to invest in them, as well as the importance of legislating laws that encourage investment in minerals.
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