JPMC ranks in Forbes Top 100 companies in Middle East list

AMMAN — Forbes included the Jordan Phosphate Mines Company (JPMC) in its “Middle East Top 100 Listed Companies” for 2022, ranking the company 82nd and placing it at a market value of $4.5 million, according to the Jordan News Agency, Petra.

JPMC specialises in phosphate fertiliser manufacturing and mining, and has four mines located in Jordan. In December 2021, JPMC acquired 10 per cent of Mitsubishi’s shares in the Nippon-Jordan Fertiliser Company, making it the largest shareholder with an 80 per cent stake.

In 2021, JPMC's phosphate production reached 10 million tonnes, an increase of 12 per cent compared with the previous year. In May 2022, the company signed agreements, valued at $1.5 billion, to increase exports with a number of Indian companies.

JPMC achieved a significant increase in its total pre-tax profits during the third quarter of 2022, reaching JD786.5 million, up from JD242.384 million in the same period of 2021, showing an improvement of 224.5 per cent.