From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Competing Interests Threaten to Undermine Iraq’s Resource Diversification
Iraq’s significant mineral riches remain woefully untapped, with hydrocarbons continuing to dominate Iraq’s export-driven economy. As it stands, oil accounts for over 99% of the country’s export value and approximately 90% of the country’s budget.
Reports suggest that if fully exploited, 16T USD worth of phosphates, silica, sulfur [sulphur] and other deposits could rival Iraq’s oil revenue. This would potentially double the country’s total resource wealth.
