Jordan Phosphate Mines (JPMC) is a mining company based in Amman, Jordan. The company operates 3 mining facilities in Jordan and a chemical manufacturing complex in Aqaba. The company is listed on the Amman Stock Exchange's ASE Weighted Index as "JOPH".
Background
Jordan Phosphate Mines was founded in 1949.
In 1986, JPMC bought the Jordan Fertilizer Company. JPMC already controlled 25% of the fertilizing company before its full acquisition. Jordan Fertilizer was operating a chemical and fertilizer manufacturing complex in Aqaba, which became the property of JPMC.
In 2007, JPMC signed a memorandum of understanding with the Indian Farmers Fertiliser Cooperative (IFFCO), India's largest fertilizer manufacturer. In 2013, the partnership was renewed for one year, committing JPMC to deliver 2 million tonnes of phosphate in a year.
In the first semester of 2014, JPMC recorded a net loss of $9.4 million, mainly due to lower commodity prices and higher fuel costs.[1]