Mineral Extarction in the Dead Sea (Wikipedia)
The exclusive right to the lucrative mineral deposits in the area of the Dead Sea in Israel could be up for grabs. ICL Group LTD, an Israel-based global specialty minerals company, currently holds the rights, that are based on concessions granted before the State of Israel even came into existence in 1948, and the Dead Sea Concession Law of 1961. The concession will come to an end in 2030 and Israel’s Ministry of Finance is already laying the groundwork for bids on the rights.
Everyone by now knows that the Dead Sea is drying up and in danger of disappearing altogether. Its waters have been receding from their old shoreline for years now and there is even a gap in the middle that separates the Dead Sea into northern and southern parts. Pipes were connected to bring water from the northern part to the lower half. This is partly due to the works done over the past century to remove minerals from the Sea, partly due to the diversion of waters from the north for agriculture, and the fact that the Dead Sea has been shrinking for thousands of years.
But this does not change the fact that the Dead Sea area will provide a wealth of minerals to be extracted for decades to come.
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According to a report in Calcalist, Israel’s Accountant General is already preparing for a new tender this year and has begun checks with investment bankers regarding the process. Such a tender is expected to be the largest of its kind in Israel’s history.
Measuring 430 meters below sea level, the Dead Sea is the lowest point on Earth and is one of the deepest lakes in the world (480 meters / 1580 feet). It is the 4th saltiest body of water on earth that contains 26 minerals with half of them exclusively unique to the Dead Sea. The Dead Sea Basin is shared between Israel and Jordan.
ICL Group, formerly known as Israel Chemicals Ltd., is a leading global manufacturer of specialty minerals and fertilizers [ICL Group: Global manufacturer of Specialty Minerals and Fertilizers]. They focus on creating solutions for sustainability challenges in the agriculture, food, and industrial markets [ICL Group: Global manufacturer of Specialty Minerals and Fertilizers].
The Dead Sea concession is part of what makes ICL Group so successful. In 2023, the company reported that consolidated annual sales were $7.536 billion.
