NewsMorocco's gold reserves rank 5th in Africa

Morocco’s gold reserves rank 5th in Africa


Moroccan gold reserves are estimated at 22.12 metric tons, according to the German Statistica database.

By stabilizing at the 22.12 mt mark, Morocco’s gold reserves increased by 0.01 mt compared to the first quarter of 2018. According to Statistica data, Morocco’s gold reserves are more significant than those of Nigeria (21.37 t), Mauritius (12.44 t), Ghana (8.74 t), Tunisia (6.84 t) and Mozambique (3.94 t ). Algeria, however, leads the regional list with 174 metric tons ahead of South Africa, Libya and Egypt.

Morocco could improve its position as gold mining operations continue to show that the country has potential gold reserves. Last February, the Canadian mining company Stellar AfricaGold announced the discovery of a third gold reservoir in the Tichka Est region, not far from Marrakech. According to the Canadian think tank Fraser Institute, Morocco is a favorable ground for mining investments in Africa and the eighth in the world. The Moroccan mining sector represents 10% of the Gross Domestic Product (GDP) with 90% of revenues coming from phosphates.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

Latest news

Algeria becomes Maghreb’s “least wealthy” country

Algeria has become the least wealthy country in the Maghreb, with a lower GDP per capita than its neighbors...

Economic growth in Morocco forecast at 2.5% in 2023 and 3.3 in 2024 (World Bank)

Morocco's economic growth is expected to reach 2.5% this year before rising to 3.3 in 2024, compared with just...

Solo travel: a growing trend among Moroccans

The "solo" travel trend has recently begun to gain in popularity among Moroccans, driven by social networks where many...

Must read

Here are the most popular tea brands for Moroccans

In Morocco, some 400 brands of tea are marketed...

Aeronautics: Swiss Pilatus chooses Morocco

Pilatus has just signed a contract with Sabca Maroc...

Apple soon at Morocco Mall

The apple brand will strengthen its presence in Morocco....

You might also likeRELATED
Recommended to you