Iraq possesses 248 billion dollars “stored” in the ground … a treasure that covers all of Iraq’s expenses for more than two years.
Yes Iraq: Baghdad… The talk in Iraq goes back to the precious minerals and natural elements that it possesses and the need to invest them in addition to oil, so government figures revealed a shocking number about the country’s sulfur reserves, so that what Iraq possesses represents 59% of the total of what the whole world owns.
The General Director of the General Company for Mishraq Sulfur, Abdel Moneim Al-Jubouri, said that “the reserves of the Mishraq fields 1, 2 and 3 in Nineveh Governorate are estimated at 354 million tons of the world’s total reserves of 600 million tons of sedimentary sulfur,” which represents more than half of the world’s reserves.
He added that “the fields of Mishraq sulfur were invested within the Iraqi-Polish cooperation agreement by the Centrosab Corporation in the early 1970s,” noting that “the company mainly produces (filtered sulfur) materials and (alum) used in water purification and (sulfur). Ground agricultural) and (sulfuric acid) ”.
He pointed out that “the production line (filtered sulfur) has stopped since 2003 due to the company’s exposure to acts of looting during the sabotage incidents that accompanied the war on Iraq,” indicating that “the company, within its allocations from the investment plan of the Ministry of Industry and Minerals, worked to restart the production line.”
Sulfur since 2010 and contracted with an international company at the time specialized in equipping specialized wells rigs for sulfur and preparing a plant for its filtering, ”expressing his“ regret at the stoppage of rehabilitation and operation of the (filtered sulfur) production line after the (ISIS) terrorist gangs occupied the province.
And between “the arrival of this line to Iraq in 2015 and deposited with the General Company for the Manufacture of Southern Fertilizers in Basra Governorate.”
And he stressed that “the company’s management developed a plan since last year to restart the sulfur production line, after obtaining the necessary approvals from the ministry to transfer and set up the refining plant, which is the main link of the production line, which was imported by the American company (Devco) at an estimated cost of 90 billion dinars. It is now in the process of restarting it. ”
Al-Jubouri called for “increasing the financial allocations through the investment plan within the federal budget so that we can restart the sulfur production line with a production capacity of one million tons per year,” indicating that “if this is not possible, the company can go to announce the (filtered sulfur) production line as an opportunity.” An investment and an invitation to international companies specialized in its industry, as it is the main activity of the company.
How much is the value of what Iraq possesses?
The global price of a ton of sulfur is estimated at about $ 700 per ton, which means that the value of what Iraq has is equivalent to $ 248, which is sufficient to cover the country’s expenses and budgets for 3 years.