4 Major Factors Contributing to Israel’s Progress

Israel is a tiny yet wonderful country. It’s located between Egypt and Lebanon along the Mediterranean Sea spread on merely 20,000+ sq. km area.

Despite the tense status of the country which has drawn it a bit back, Israel is very strong technologically and its rich natural resources also contribute to its progress; for example, the condensate in Israel near its coast has completely transformed the country’s energy scene making it not only energy independent but also a major exporter of natural gas. It’s interesting to take a look at the factors contributing to Israel’s progress.

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  1. Metals

The production of magnesium metal in Israel is increasing every year and it’s produced by Dead Sea Magnesium Ltd. Israel is also a major producer of copper.

  1. Gemstones and Industrial Minerals

Dead Sea Bromine Group is a company extracting carnallite and brines from the Dead Sea. As per the increased demands for bromines from across the world, Israel quickly increased its production of bromine.

Israel’s progress is largely accredited to building and road construction industry which uses a large number of raw materials like sand, limestone, and gravel that are mined and quarried within Israel.

Though Israel is not among the producers of rough diamond, it has a huge market which is internationally recognized for diamond cutting and trading. The Israeli companies that cut and polish diamonds specialize in big, high-value gemstones too. The cut and polished diamonds in Israel are exported mainly to the US.

  1. Fossil Fuels

Israel found its fossil fuel reserves and its energy scenario changed. Today, it has Mari-B offshore gas field in the Mediterranean Sea operated by Delek Drilling and Noble Energy. the huge Leviathan prospect operated jointly by Delek Drilling, Ratio Oil and Noble Energy, Tamar prospect operated by Noble Energy, Delek Drilling, Tamar Petroleum, Isramco and Dor Alon.

  1. Investment

The government of Israel has created a secure environment for investment mainly by promoting its mining sector.

The Mining Unit of Israel regulated by the Controller of Mines works for the following:

    Ensure the proper supply of raw materials to the road and building construction sector across the country

    Ensure consistency of quarry activity with the associated laws and regulations

The government has also started a Quarry Rehabilitation Fund to restore abandoned quarries.

All in all, Israel has got a great help from its natural resources on the way towards progress along with its brilliant minds that are making great inventions and contributing to the country’s progress.

 

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