Dead Sea Deal: Israel Aims to Balance Profit and Nature

Israel has unveiled a new strategy to manage the Dead Sea's mineral resources, aiming to boost profits and protect the environment.

Current Situation and Changes

• Current Deal: ICL Group has held exclusive rights for 50 years, extracting minerals like potash and magnesium.
• End of Deal: The current agreement is set to expire in 2030.
• New Approach: The government plans to open the market to more companies, attracting international players.

Economic and Environmental Goals

• Profit Sharing: The state's share of profits will increase from 35% to 50%, ensuring public benefits.
• Environmental Protection: The new law aims to reduce the negative impacts of mining on the shrinking Dead Sea.
• Competition and Ecosystem Protection: The government believes this will enhance competition and safeguard the unique ecosystem.

ICL's Response

• Bidding Process: ICL has expressed interest in joining the new bidding process.
• Confidence in Continuity: They believe they are the best choice to continue the work.
• Government Agreement: The new law is expected to maximize economic value while protecting the environment for future generations.