Morocco’s mining sector is entering a new phase of industrial transformation as the European Bank for Reconstruction and Development (EBRD) considers providing financing of up to MAD 243 million to Procaneq Morocco, one of the Kingdom’s leading mining services providers and a strategic partner of the OCP Group.
This operation forms part of the strategy to modernize the phosphate value chain. Morocco holds nearly 70% of the world’s known phosphate reserves, making the Kingdom a key player in global food security.
Procaneq Morocco: A Pillar of the National Mining Industry
A specialized mining contractor, Procaneq Morocco has established itself as a leading industrial player in phosphate extraction, loading, transportation, and material handling. The company operates primarily in the vast mining basins of Khouribga and Benguerir, two of the largest phosphate complexes in the world.
The company operates a fleet of several hundred heavy-duty machines—including excavators, hydraulic shovels, bulldozers, graders, loaders, high-capacity haul trucks, and specialized equipment—enabling it to perform critical operations that ensure the continuity of the OCP Group’s production. Its workforce, comprising several thousand highly skilled employees and technicians, operates under the highest standards of safety, maintenance, and operational excellence.
Procaneq Morocco also plays a major role in modernizing mining operations through the gradual integration of digital technologies, fleet management systems, predictive maintenance, equipment geolocation, and digital optimization of operational processes.
Financing to Support a New Growth Phase
The proposed EBRD financing will enable Procaneq Morocco to strengthen its extraction capacity, accelerate the renewal and modernization of its equipment fleet, improve logistics performance at the Khouribga and Benguerir sites, and support the OCP Group’s continued production expansion.
The investment will help increase mining productivity, reduce operating costs, improve the energy efficiency of equipment, and strengthen the resilience of Morocco’s phosphate supply chain.
A Strong Signal for Moroccan Industry
Beyond its direct impact on Procaneq Morocco, the operation demonstrates the confidence of international financial institutions in the competitiveness of Moroccan industry. It fully aligns with the Kingdom’s industrial ambitions to increase local value creation, develop national champions in industrial services, and reinforce Morocco’s global leadership in the phosphate sector.
Through this new financing operation, the EBRD is not only supporting the growth of one of the OCP Group’s strategic partners but also contributing to the development of a more innovative, efficient, and sustainable mining ecosystem. Procaneq Morocco is therefore emerging as one of the key pillars of the industrial transformation of Morocco’s mining sector, serving a phosphate industry that remains among the world’s most powerful and competitive.
