Saudi Arabia is planning to increase its phosphate fertiliser production to capture a quarter of the global export market as it seeks to expand its mining sector and become less dependent on oil revenues, said senior officials.
The kingdom, already among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco, plans to increase capacity by 50 per cent to produce 9mn tonnes of phosphate fertilisers a year, said Robert Wilt, the chief executive of the Saudi Ma’aden mining company.
Phosphate is mostly used in fertilisers, with global demand expected to grow as the population rises, and with it demand for food.
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