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15 000 28% 22 Value creation and social commitment 2011 ANNUAL REPORT OCP 22 15 000 28% BILLIONS OF MAD WERE YOUNG MOROCCANS BENEFITTED OCP’S SHARE IN THE INVESTED BY OCP IN 2011 FROM VOCATIONAL TRAINING TOTAL VALUE OF GOODS PROGRAMS AIMED AT EXPORTED BY MOROCCO IMPROVING THEIR EMPLOYABILITY 2-4, RUE AL ABTAL HAY ERRAHA BP 5196 CASABLANCA MAROC OCP ANNUAL www.ocpgroup.ma REPORT 2011 Créer de la valeur, s’engager socialement //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Value creation and social commitment //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// OCP ANNUAL REPORT 2011 His Majesty King Mohammed VI visiting Jorf Lasfar in December 2011 OCP ANNUAL REPORT 2011 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// INTRODUCTION 8 The world of OCP Who we are _ 9 What we produce _ 11 OCP’s ten strategic targets _ 12 Some of the Group’s flagship projects _ 14 CON Our history _ 15 OCP’s subsidiaries _ 16 Our global presence _ 18 OCP’s market shares _ 20 General organizational chart _ 21 Financial indicators _ 22 TEN Our vision _ 23 PART 1 28 Value creation … Human capital _ 30 Market _ 38 Industrial excellence _ 46 TS Financial statements _ 56 PART 2 62 …Social Commitment Environment _ 64 Social commitment in Morocco _ 70 Food security _ 84 Ethics and transparency _ 92 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 7 BILLION THEDOLLARS GROUP’S TURNOVER IN 2011 7 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// THE WORLD OF OCP //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 22 15 000 28 % //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// BILLIONS OF MAD WERE INVESTED YOUNG MOROCCANS BENEFITTED FROM OCP’S SHARE IN THE TOTAL VALUE BY OCP IN 2011 VOCATIONAL TRAINING PROGRAMS AIMED OF GOODS EXPORTED BY MOROCCO AT IMPROVING THEIR EMPLOYABILITY 9 THE WORLD OF OCP ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// FIRST EXPORTER WORLDWIDE OF PHOSPHATES IN ALL FORMS (PHOSPHATE ROCK, PHOSPHORIC ACID AND FERTILIZERS) FIRST MOROCCAN COMPANY THE LARGEST IN THE KINGDOM ACTIVE ON ALL FIVE CONTINENTS Boasting a 90-year plus experience and disposing of phosphate reserves among the most important in the world, the Group pursues a double goal of value creation and strong social commitment. In fact, OCP is achieving high fi nancial and marketing performance on the one hand, and is supporting, on the other hand, Moroccan economy as well as global food security, a fi eld where the Group is a THE MEAN major player. P2O5 CONTENT OF EACH TONNE OF ROCK IS In OCP’s view, profi tability goes hand in hand 0.32 TONNE with responsibility //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// ///////////////////////////// 10 WHAT WE PRODUCE //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 28,1 4,4 4,35 MILLION TONNES MILLION TONNES MILLION TONNES OF PHOSPHATE ROCK OF PHOSPHORIC ACID OF FERTILIZERS //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// PHOSPHATE ROCK 1 The quality of the phosphate rock sulfuric acid. In 2011, OCP has manufactured extracted – through open-sky mining – is 4.4 million tonnes P2O5 of this product. As for measured by its phosphorus content (P2O5). purifi ed phosphoric acid, it is produced in The mining rock is fi rst processed to increase small quantities to supply different food and its phosphorus concentration (through industrial applications. OCP is the biggest enrichment processes) and is then converted worldwide exporter or phosphoric acid, with a into phosphoric acid. The mean P2O5 content 51% global market share. of each tonne of rock is 0.32 tonne. OCP is the fi rst worldwide exporter of phosphate rock, with PHOSPHATE FERTILIZERS a 36.7% world market share. In 2011, the Group 3 Four different types of such fertilizers has produced 28.1 million tonnes, of which it are processed from phosphoric acid: DAP has exported 9.7 million tonnes and supplied (the most commonly used), TSP (trisodium 18.4 million tonnes to its chemical processing phosphate), MAP (a binary fertilizer consisting facilities in Morocco. of two fertilizing agents: phosphorus and nitrogen), and NPK (a ternary fertilizer made PHOSPHORIC ACID of three elements: phosphorus, nitrogen and 2 An intermediate product between potassium). With a 16.5 % market share, phosphate rock, fertilizers and phosphoric OCP is the third global exporter of phosphate acid is actually the result of an enrichment of fertilizers, after China and the United States. the original ore to reach 52% concentration in In 2011, the Group’s total fertilizer production P2O5 through a chemical reaction process with reached 4.35 million tonnes. //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 11 OCP’S TEN STRATEGIC TARGETS //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 01 7 000 6 225 Leadership 6 000 5 000 4 239 Investments Thanks to its industrial 4 000 3 824 3 060 in millions of MAD and marketing leadership, 3 000 2 570 and particularly to its social 2 000 commitments, OCP is a credible and authoritative voice 1 000 in the world of phosphate. 2007 2008 2009 2010 2011 03 05 Industrial Reasoned excellence fertilization Thanks to its industrial investment A reasoned use of fertilizers will program of MAD 120 billion within enable to reconcile food security the next ten years, OCP will have requirements with soil and at its disposal the most innovative environment preservation. technology in matters of phosphate mining, processing and transport. 02 04 Competitiveness Human capital Essential to its development, OCP’s OCP’s near 20,000 staff members competitiveness relies upon its are its primary wealth. They are part industrial fl exibility, cost reduction of its collective intelligence, which and innovation. is the main source of the Group’s performance. //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 12 06 Preserving the environment Parallel to adopting environment- friendly industrial technology, OCP is implementing ambitious strategies in matters of energy effi ciency and water resources preservation. 07 09 Food security Supporting OCP’s Nearly one billion people in the neighbor populations world are poverty-striken. People living in the vicinity of OCP is determined to contribute the Group’s fi ve sites benefi t from in implementing innovative various recruiting and training agricultural solutions to help the programs, as well as from incentives most vulnerable farmers. to the creation of small businesses. 10 Developing the Group’s ecosystem In OCP’s view, strengthening the bonds with its ecosystem is a key factor of the Group’s success. Promoting local lifeblood, developing their know-how, enhancing the attractiveness of the regions where OCP’s activities are located, these are the axes of the Group’s action to associate local as well as national players. 08 Supporting Moroccan agriculture In addition to the soil fertility maps, OCP has created an investment fund designed to fi nance innovative agricultural projects. //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 13 SOME OF THE GROUP’S FLAGSHIP PROJECTS //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// THE KHOURIBGA-JORF LASFAR from the present 18 million. As for the phosphate SLURRY PIPELINE rock processing operations, they will be made Designed to transport phosphate rock from easier thanks to the construction of three new Khouribga’s minings to the Jorf Lasfar chemicals washing plants (including the El Halassa plant) plants, this 235 km long slurry pipeline is among the world’s largest and most modern. scheduled to be complete in 2013. The pipeline will generate substantial savings in transport PORT FACILITIES cost, as well as in water and energy. Its operation Large-scale extension works are to be completed will also result in reducing by 900,000 tonnes during the second semester of 2015 at the Jorf OCP’s carbon footprint. The pipeline project will Lasfar harbor to enable its facilities to cope with cost MAD 4.5 billion. the import-export traffi c resulting from OCP’s doubling of its mining activity
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