Morocco Plans 800 Acre Resort Hotel Funded by Fertilizer Cash - Bloomberg: "Béatrice Montagnier, a hotel specialist with consulting firm Horwath HTL, snapped pictures of an old warehouse and a jumble of sun-baked two-story concrete block homes outside the Moroccan town of Khouribga. It was May 2009 and Paris-based Montagnier was scoping out a planned site for an 800-acre hotel resort and museum.
While she worked on details of project layout, one issue -- funding -- was not a concern. The estimated $1 billion needed to build the resort would come from the ground beneath her feet, Bloomberg Businessweek reports in its Nov. 8 issue.
Khouribga and elsewhere in Morocco are home to the world’s biggest known deposits of phosphate, used in fertilizer, detergent, food additives, and more recently lithium-ion batteries. Sold for decades in its raw state for less than $50 per metric ton, it’s currently at about $125, according to World Bank figures."
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