Dead Sea Deal: Who Gets the Prize?

New Rules for Profit and Environmental Protection

Israel is set to overhaul the regulations governing mineral extraction from the Dead Sea. The government aims to ensure a fair deal for the public while safeguarding the environment.

Current Situation

• ICL Group has held the rights to extract minerals from the Dead Sea for 50 years.
• Their permit expires in 2030.
• If they lose the permit, ICL will receive $3 billion.
• ICL values its Dead Sea assets at $6 billion.
• The company primarily extracts potash and magnesium.

Proposed Changes

• The new law will increase the state's share of profits from 35% to 50%.
• The government claims this will benefit both the public and the environment.

Environmental Concerns

• The Dead Sea is shrinking.
• The new law aims to mitigate damage caused by mineral extraction.

ICL's Stance

• ICL expresses interest in being part of the new deal.
• They believe they are the best choice to manage the operation.

Government's Perspective

• Yali Rothenberg, an official, states the law ensures the state maximizes profits and protects the Dead Sea for the future.
• Critics question whether the government's motives are purely financial or genuinely environmental.