Phosphate mines company signs MoU with Karak international oil

The Jordan Phosphate Mines Company (JPMC) signed aMemorandum of Understanding with Karak International Oil (KIO) on Monday tofacilitate the purchase of KIO’s products, namely sulphur, fuel, and mined phosphate.The MoU was signed by Chief Executive Officer of the JPMC, Shafiq Ashkar, and theChairman of the KIO, Munther Akroush, in the presence of the JPMC Chairman, AmerMajali.Under the deal, the JPMC will purchase sulphur from the KIO at world market pricesat a preferential discount in addition to purchasing quantities of heavy fuel, theproduction of which will start in early 2017.The deal will also enable the JPMC to extract raw phosphate found under oil shalerocks in the Lajoun area in the southern governorate of Karak.Karak International Oil (KIO) is a Jordanian company that specialises in mining andprocessing of oil shale, which can extend the world’s oil supply.The KIO employs cutting edge technology and specialist expertise to unlock thepotential of Jordan’s oil shale reserves – the 4th largest in the world.