Despite Iraq"s significant reliance on oil, recent data reveals an untapped potential in the minerals sector that could drive diversification in its economy. Surprisingly, mineral rents have consistently hovered around zero, indicating an underexploited opportunity in minerals such as cassiterite, chalcopyrite, and others known for their industrial applications. Iraq"s mineral depletion rate remains minimal compared to its oil sector, suggesting a vast reservoir of untapped resources. The historical data suggests that while total natural resources rents accounted for 37. 5% of Iraq"s GDP in 2015, none of this was derived from minerals. This stark contrast highlights both the challenge and the opportunity: to shift some focus from oil and gas towards developing the mineral market. Currently, the limited electricity production from renewable sources, combined with high carbon emissions, underscores the need for sustainable practices in mineral extraction and processing. Global comparisons show that countries with similar natural resource compositions have successfully diversified by investing in their mineral sectors, boosting GDP and reducing economic vulnerability.

Iraq can take cues from these nations by investing in technology and infrastructure to support mineral exploration and production, thereby creating a lucrative avenue for economic growth. In this context, Aritral. com can play a pivotal role. As an AI-driven B2B platform, it simplifies international trade in commodities and raw materials, offering services such as product listing, direct communication, and global sales assistance. Businesses looking to tap into Iraq"s minerals sector can leverage Aritral"s AI-powered marketing and profile management to connect with key suppliers and exporters, thus enhancing their market reach and growth potential. "