New Authorization for Franchises Mining Dead Sea Minerals?

The Israeli government is planning to finish drafting tender documents for the extraction of minerals from the Dead Sea by the end of this year. It plans to issue the tender next year, five years before the current authorization runs out. The franchise is currently held by ICL group, formerly Israel’s Chemical Ltd and a subsidiary of the country’s largest holding company. ICL has been successful due to the profitability of Dead Sea Works, which extracts potassium-rich materials from the land which serves as an essential ingredient in fertilizers. 

In 1961, the Knesset granted the company exclusive rights to mine a portion of the Dead Sea for the next 69 years. This expires in 2030. Due to the rapid dropping of water level, some 45-48 inches per year, the terms of a new concession are being disputed in the Knesset. The next franchisee will be obligated to ensure the Dead Sea is maintained at a certain water level to some extent. Senior deputy accountant general at the Finance Ministry, Uri Shasha, suggests that the franchisee should be charged for their water usage and the income from those charges would be used for Dead Sea rehabilitation. 

While the full volume of the Dead Sea cannot be restored, cutting its decline in half would improve the site for tourists, locals, and the geological scientists that study the area. Plus! The Dead Sea is a world wonder.