million on production of almost 500,000 tonnes, down from two million tonnes in 2011.
Syria is considered to have one of the world’s largest phosphate reserves.
“With the suspension of oil exports, phosphates represented one of the last sources of income of the state,” according to Syria Report, an online business weekly.
IS is accused of executing hundreds of people in and around Palmyra since it swept into the oasis city last week after a lightning advance across the desert from its stronghold in the Euphrates Valley to the east.
The Observatory said on Sunday that it had documented the executions of at least 217 people, among them 67 civilians, including 14 children.
Some of those killed had been beheaded, Abdel Rahman said, adding that the Jihadists had also taken some 600 people prisoner.
Syrian state media said at least 400 civilians had been killed by IS in Palmyra, most of them women, children and old men.
The pro-government Al-Watan daily reported on Monday that the number of executions had risen to 450.
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