Iraq ranks first in the world in terms of the concentration of natural resources within its territory

[RJG]

Iraq ranks first in the world in terms of the concentration of natural resources within its territory

 

INA - BAGHDAD - LIVE UPDATES
 
PM’s financial advisor, Mudhher Muhammed Salih, confirmed on Friday that Iraq ranks ninth globally among countries rich in natural resources, pointing to a movement to invest in strategic minerals as the revenues of which are comparable to oil.
 
"Iraq ranks ninth among the ten richest countries in the world in terms of natural resources, as its wealth of precious minerals, metals, and others is estimated at approximately $16 trillion at least, according to preliminary global estimates," said Salih to the Iraqi News Agency – INA.
 
He pointed out that "Iraq ranks first in the world in terms of the concentration of natural resources per square kilometer of its expansive and diverse geography, especially in the Mesopotamia Basin region, which is rich in underground resources."
 
“Investing in strategic minerals such as thorium and uranium could generate returns comparable to those of oil, as thorium is a cleaner and more important alternative for energy generation compared to uranium," he added, explaining that "linking the value of the national currency to investment in these minerals depends on Iraq's ability to enter value-added chains, which contributes to raising the gross domestic product."

He added that "the discovery of large quantities of thorium and uranium in southern Iraq represents 'strategic news' that will have a significant impact on diversifying the national economy if optimally exploited, especially if linked to the investment policies associated with the Development Road project."
 
“The development of exploration and manufacturing operations for these two resources will pave the way for the development of non-oil resources, strengthening Iraq's global geo-economic position. Furthermore, this development will outline a new industrial map linked to the Development Road, establish a sustainable future, attract major global mining companies with advanced technological capabilities, and provide quality job opportunities within the Iraqi market," Salih emphasized.
 
He pointed out that "this boom in mineral investment will positively impact fiscal and monetary policy by enhancing monetary stability and increasing national income, which contributes to improving citizens' well-being."
 
"The importance of thorium and uranium minerals in the global energy market, and the presence of major economic partners such as India, China, and the United States, make Iraq a pivotal player in the field of unconventional fuel resources and an influential center in facilitating international security and energy paths," he added.

•  Today, 17:49
• https://ina.iq/eng/39394-iraq-ranks-first-in-the-world-in-terms-of-the-concentration-of-natural-resources-within-its-territory.html

[3n1]

would love to have a sit down (under the cone of silence) of course , with Salih about the currency plan that himself and shabibi worked on till maliki ran shabbs out of the cbi and iraq forever ....

 

[rvmydinar]

2 hours ago, RJG said:

Iraq ranks first in the world in terms of the concentration of natural resources within its territory

The question should be " what does Iraq rank in terms of exchange rate around the middle east or in the world? ". Let's see Kuwaiti dinar would be the first rank. What would be the second rank coming soon?? Anyone guess.

[horsesoldier]

4 hours ago, 3n1 said:

would love to have a sit down (under the cone of silence) of course , with Salih about the currency plan that himself and shabibi worked on till maliki ran shabbs out of the cbi and iraq forever ....

 

"GET SMART" - Mel Brooks & Buck Henry ...aaaaannndd Loving It 🤣

[BETTYBOOP]

This highlights just how rich and prosperous the country and its people could be. If only the government would make the effort to kick Iran and its militias out and work on make these resources work for them. Then again maybe the government and the politicians  don't want its people to prosper?

Edited April 19 by BETTYBOOP

[Laid Back]

All those natural resources and a weak currency

 

 

[JonnyV]

12 minutes ago, Laid Back said:

All those natural resources and a weak currency

 

 

 

Yup.  Not for long though!

[Half Crazy Runner]

On 4/18/2025 at 2:26 PM, 3n1 said:

would love to have a sit down (under the cone of silence) of course , with Salih about the currency plan that himself and shabibi worked on till maliki ran shabbs out of the cbi and iraq forever ....

 

Might be easier to just give them a call on your shoe phone … 😁

[3n1]

1 hour ago, Half Crazy Runner said:

Might be easier to just give them a call on your shoe phone … 😁

 

your right ... missed it by that much ..... cheers dv'ers

[screwball]

On 4/19/2025 at 3:38 PM, JonnyV said:

 

Yup.  Not for long though!

100%

[horsesoldier]

8 hours ago, Half Crazy Runner said:

Might be easier to just give them a call on your shoe phone … 😁

I keep getting that squelching noise then a gals voice comes on stating the number I've dialed is no longer in service... Damned Verizon Shoe Phones anyhow.

[Theseus]

Ain't worth squat if those minerals are still in the ground. The market price is based off how much is the cost of goods. You can have the world's largest gold mine but if it requires more money to extract the gold then its market value, it ain't worth anything. 

[dindu12]

All those resources worth billions, and all they have is monopoly money to play with, something's going terribly wrong somewhere.

[TnGBO]

Shafaq news has an interesting article today in the economy section. The article is titled " Iraq's dinar is solid". I forgot how to copy and paste again so someone feel free to post it, and don't give me any shiite about forgetting.

[climber7]

45 minutes ago, TnGBO said:

Shafaq news has an interesting article today in the economy section. The article is titled " Iraq's dinar is solid". I forgot how to copy and paste again so someone feel free to post it, and don't give me any shiite about forgetting.

 

https://www.shafaq.com/en/Economy/Iraq-s-dinar-solid-Reserves-fully-back-currency

 

[3n1]

2025-04-21 06:25

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Shafaq News/ Iraq’s foreign currency reserves remain sufficient to fully back the national currency in circulation, the prime minister’s financial advisor revealed on Monday.

Advisor Mudhhir Muhammad Salih told Shafaq News, “The reserves are adequate to cover three months’ worth of imports, indicating overall stability,” stressing that effective external use of foreign reserves—by balancing the need to maintain the dinar’s external purchasing power and exchange rate stability with efficient reserve management—is a core objective of Iraq’s independent monetary policy.

The Central Bank of Iraq reported on March 31 that net foreign reserves stood at 130.81 trillion dinars in 2024, down 10.18% from 145.64 trillion dinars in 2023. The central bank attributed the decline to rising domestic public debt used to cover the actual budget deficit.

[Theseus]

8 hours ago, 3n1 said:

 

The Central Bank of Iraq reported on March 31 that net foreign reserves stood at 130.81 trillion dinars in 2024, down 10.18% from 145.64 trillion dinars in 2023. The central bank attributed the decline to rising domestic public debt used to cover the actual budget deficit.

And who said "Ooo, they ain't going to tap into the the reserves". I hate when I am right about Iraq.

[Theseus]

Want a price tag on the minerals Iraq has? Here ya go from Rudaw:

 

Mining is a potential ‘$16 trillion’ industry in Iraq: Official

19-04-2025

Rudaw

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Iraq

Obsidian on display at the Museum in Erbil citadel on September 1, 2019. Photo: Mohammed Shwani/Rudaw

ERBIL, Kurdistan Region - Iraq is rich in minerals and mining has the potential to be a $16 trillion industry, an advisor to the prime minister said on Saturday.

“Iraq is rich in various types of minerals and precious stones, including silica sand, which is found in the provinces of Anbar, Najaf, Karbala, and Muthanna. This type of sand is used in glass manufacturing, ceramics, and electronic chip industries,” Mazhar Mohammed Salih told Rudaw.

“Quartz rock, which is rich in silica and is found in the mountainous regions of Kurdistan, is also used in the manufacturing of electronic chips, glass, and porcelain,” he added.

Iraq also has large sulfur reserves, mostly found in the Mishraq area near Mosul, and it has large quantities of phosphate, which is used in cement production, especially in the Akashat area of Anbar province, according to Salih.

According to preliminary estimates, the revenue from mining these minerals could reach “approximately 16 trillion dollars,” said Salih, adding that these industries are underdeveloped.

He said that there is also a good amount of gold in the country, especially in the mountainous areas of the Kurdistan Region, in addition to iron, nickel, thorium, lead and limestone.

Cement, mining, and agriculture are some of Iraq’s key industries, but they are dwarfed by the oil sector, on which the economy is dependent. Iraq has one of the world’s largest proven crude oil reserves. Experts warn that economic diversification is crucial to stabilizing Iraq’s economy.

 

[screwball]

WOW!

[JonnyV]

Thanks Theseus.  This is huge news and deserves its own thread if you want to do that.

[Theseus]

Here's the question that begs a response:

 

Is it a yearly $16 trillion industry or an all together $16 trillion? If it is only $16 trillion in total, then that doesn't portend to favor Iraq. If it is yearly then it could eventually get out from under the shadows of the oil industry in Iraq. The minerals they POTENTIALLY have still needs to be removed and that costs money, time and labor. Then processing of the minerals for manufacturing etc. They just need to get their hinnies inot gear and start extracting and making or exporting minerals. The pictures show some interesting crystals I could use for my Crystal business. Obsidian is a great protector and grounding stone. Quartz is an excellent amplifier for gridding and healing work. If they have clear Quartz like Lemurian Laser Quartz, I could use a few wands made of that. Well we'll seee what they do. Wonder if they have any opal? Or tourmaline. Citrine combined with Clear Quartz and the right intention could bring forth abundance and wealth to Iraq. Oh well I digress. Just need the right combo for the malady that ails ya.

[Theseus]

BTW in case anyone is wondering XRP to Iraqi Dinar is currently 1 to 2853.42.

 

And XRP to USD is 1 to 2.18. 

 

XRP has a market capitalization of 127.1 billion, a trading volume of 4.6 billion and circulating supply of 58.4 billion XRP. 

 

Coinbase lists Iraqof having a market capitalization of 166.9  trillion IQD, a trading volume of 6.1 trillion IQD and same circulating supply of XRP. 

 

XRP Market stats (as of 04/24/2025)



XRP is on the rise this week. ↗

The price of XRP has decreased by 0.76% in the last hour and decreased by 2.46% in the past 24 hours. XRP’s price has also risen by 3.71% in the past week. The current price is $2.19 per XRP with a 24-hour trading volume of $4.613B. Currently, XRP is valued at 42.90% below its all time high of $3.84. This all-time high was the highest price paid for XRP since its launch.

The current circulating supply of XRP is 58,394,167,593 XRP which means that XRP has as total market cap of $127,099,854,527.85.

Overall

Market cap

$127,099,854,527.85

Popularity

#4

Circulating

$58,394,167,593.00

Max Supply

$100,000,000,000.00

Hold time

Not enough data

Price & Volume changes

Volume (24h)

$4,613,287,748.17

↘ 3.29%

Volume (30D)

$145,074,561,561.56

Volume (7D)

$19,491,874,174.99

Benchmarks

All time high

$3.84

Performance (1Y)

↗ 316.86%

Vs. Market (1Y)

↗ 243.01%

Vs. BTC (1Y)

↗ 190.46%

Vs. ETH (1Y)

↗ 643.07%

FDV

$217,658,474,753.36

What's happening in XRP



 

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Mar 25, 2025

Ripple opts not to cross-appeal as SEC case nears resolution.

 

 

Mar 24, 2025

XRP could hit $10 by 2030 as Ripple wraps up SEC Case: Analyst.

 

 

Mar 20, 2025

Ripple CEO confident of XRP being included in U.S. strategic reserve, says IPO is 'possible'.

 

XRP Whales boost coin stash by over 6% to 46.4B in two months, blockchain data shows.

 

 

Mar 19, 2025

Ripple CEO says legal battle with SEC 'has ended,' XRP's price jump

Edited April 24 by Theseus

[Theseus]

The above equates to 2853.42 IQD per 2.18 USD equals 1,308.908 IQD per 1 USD.