Jordan phosphates company reports 31% profit rise

The Jordan Phosphate Mines Company (JPMC), one of the world’s largest phosphate producers, reported profits increased by about a third last year, following growth in Asian demand and higher prices.

Profits after tax stood at around JD601 million ($842 million) last year, an increase of nearly JD143 million ($200 million) over the 2024 net earnings, the company said in a financial statement on its website.

Sales rose by around 19 percent to nearly JD1.45 billion while gross earnings peaked at around JD887 million, the report showed.

Jordan’s Al-Mamlaka TV quoted company sources as saying the surge in profits was a result of improved global phosphates prices and higher Asian demand for its products. Another factor is better efficiency which led to lower costs, it added.

Last year, JPMC said it was planning to invest nearly JD1.27 billion in new projects in a short-term expansion strategy.

Chairman Mohammad Thneibat said large spending cuts and a switch to gas in operations in the past years had allowed JPMC to pull back from the verge of collapse to a profitable company and a major supporter of Jordan’s balance of payments.

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After recording losses of around JD90 million in 2016 and JD47 million in 2017, JPMC rebounded to profits in the following years.

Cumulative profits during 2018-2024 totalled around JD2.05 billion, allowing the Company to sharply increase dividends to shareholders.

JPMC, a public holding company listed on Amman’s bourse, produced nearly 11.5 million tonnes of phosphates in 2025.

Founded in 1949, JPMC operates in the mining and phosphate fertiliser manufacturing sectors and is working on establishing a diversified fertiliser company with the Arab Potash Company at a cost of $600 million, with a production capacity of more than 400,000 tonnes of fertiliser and phosphoric acid.