JPMC Terminal

completed

_x000C_The project consists of the construction and operation of a new rock phosphate terminal in the south port of Aqaba, by Jordan Phosphate Mines Co. (“JPMC” or the “Company”). The annual throughput of the terminal will be 4 mm tons and total Project cost is estimated at US$180 million. The new jetty is part of a larger strategic plan by the government of Jordan to transform the current industrial port area located at the northern part of the Jordanian coast into a tourism area relocating the industrial activities, including the phosphate terminal, to the Southern Industrial Zone located on the southernmost tip of Jordan’s Gulf of Aqaba, just north of the Saudi Arabian border. The overall development is being coordinated by the ADC. The government has imposed a deadline for the closure of the current facilities by June 30, 2012 and, hence, JPMC has undertaken an agreement with the government for the relocation of the phosphate terminal to a new site at the Southern Industrial Zone.