Egypt's El Khatib explores eco-tech, water projects with global alliance    Egypt, Sweden explore health investment, cooperation on Gaza aid    Egypt, Sweden sign agreement to boost public transport    IMF: Egypt's private investment rises to nearly 60%    Israel's Gaza offensive enters Day 71 as death toll tops 54,000 amid mounting global pressure    PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative    Petroleum Minister inaugurates TAQA's new integrated operations center in Cairo    Egypt, Mauritania sign 13 deals as joint committee resumes after 19-year hiatus    Egypt's PM meets Samsung, stresses importance of localising advanced tech industries    Egypt's Nasser Social Bank, Ahl Masr Hospital sign MoU to boost burn treatment services    Egypt's Sisi, Spain's Sánchez discuss Gaza, reject displacement of Palestinians    EU commits €150b for defence investment plan    Hamas, US envoy reach preliminary Gaza ceasefire deal as civilian deaths rise    Egypt signs strategic partnership to advance orthopedic care with Zimmer Biomet    Ahl Masr partners with UAE's Make-A-Wish Foundation to support emotional recovery of young burn survivors    Egypt's Environment Minister chairs regional CEDARE meeting ahead of UN desertification role    Egypt launches "Memory of the City" app to document urban history    New Alamein City to host Egypt International Sculpture Symposium, "ART SPACE"    Ancient Coptic structure with significant murals discovered in Egypt's Assiut    Egypt's AZM signs healthcare cooperation protocol with Zimmer Biomet    Israel expands ground offensive in Gaza as humanitarian crisis reaches critical point    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt unearths rare Coptic-era structure in Asyut    Amun-Mes named as owner of Luxor's Kampp 23 tomb after 50-year mystery    Egypt considers underwater museum to boost tourism revenue    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt targets regional mining hub status, prioritises value-added projects
Published in Daily News Egypt on 20 - 05 - 2025

Egypt is aiming to transform into a regional hub for mining industries, with value-added projects identified as a top priority in the Ministry of Petroleum and Mineral Resources' operational strategy, according to a Tuesday government statement.
Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that the petroleum and mining sectors attach paramount importance to value-added projects and maximising the utilisation of Egypt's petroleum and mineral wealth. "This will be achieved by expanding local manufacturing projects, producing world-class products, and subsequently exporting to international markets, thereby securing foreign currency for Egypt," Minister Badawi stated.
He highlighted the goal of transforming Egypt into a regional hub for mining industries by leveraging its advanced infrastructure and distinct geographical location. Minister Badawi added that efforts are currently underway to develop the mining operations system, a key component of the mining sector's focus within the Ministry's current operational strategy. This initiative commenced with the transformation of the Mineral Resources Authority into an economic entity, aiming to increase the mining sector's contribution to the Gross Domestic Product (GDP) to 5% or 6%.
These remarks were made during the General Assembly of Misr Phosphate Company, convened to approve the financial results for the fiscal year 2024.
During the assembly, Minister Badawi emphasised the necessity of formulating a five-year action plan for ongoing projects, including specific timelines for their completion. He also called for a comprehensive inventory of Egypt's available phosphate reserves and noted an upcoming visit to the Abu Tartur phosphate region to monitor work progress.
Mohamed Abdel Azim, Chairperson of Misr Phosphate Company, delivered a detailed presentation on the company's performance for fiscal year 2024 and its key performance indicators. He confirmed that Misr Phosphate Company aims to undertake exploration, prospecting, and investment in phosphate, as well as secure exploration and exploitation licences in various phosphate-bearing areas.
He stressed that Misr Phosphate is one of Egypt's largest phosphate ore producers, operating through several concessions and licences for exploration, exploitation, and production in regions including Abu Tartur (New Valley), Al Shaghab (Red Sea), and Al Sebaiya (Nile Valley). Furthermore, the company manages certain mines owned by the Egyptian Mineral Resources Authority (EMRA) in the Al Shaghab areas of the Red Sea, producing various grades of phosphate ore suitable for diverse global markets.
Abdel Azim indicated that the company implements numerous production and marketing operations to achieve its primary objectives. This is guided by a strategy focused on maximising production and sales while rationalising expenditures, all based on a balance between production and sales.
According to 2024 statistics, Misr Phosphate Company has become the leading exporter of phosphate ore, accounting for 50% of Egypt's total phosphate ore exports. The company also supports the domestic market by supplying all locally required grades of phosphate ore, facilitating raw material processing and maximising the added value of Egyptian resources.
To sustain the company's growth, which requires exploiting new areas to boost production and expand phosphate ore reserves, robust exploration and prospecting plans are in place. "Currently, drilling operations are underway to confirm phosphate ore deposits, calculate geological and mining reserves across various regions, and prepare for sustained production," Abdel Azim explained. These efforts ensure the company continues to implement its strategy of maximising output and maintaining its leadership position among exporting companies.
Misr Phosphate Company also aims to undertake several value-added projects. This includes a 24% equity participation in the establishment of a phosphoric acid production plant, planned for the Abu Tartur area in the New Valley, with investments totalling approximately $640m. Additionally, Misr Phosphate is collaborating with the Indian company Indorama to establish a joint venture for a phosphate fertiliser plant in the Ain Sokhna area, with investments reaching around $500m.
Regarding financial indicators for Misr Phosphate Company, net sales from its operations in Abu Tartur, the Red Sea, and Al Sebaiya reached EGP 7.9bn this year, a 149% increase compared to the previous year. Profit after tax amounted to EGP 3.3bn in fiscal year 2024, representing a 194% increase from the prior year.
Misr Phosphate Company is pursuing institutional development in full coordination with the Ministry of Petroleum and Mineral Resources and EMRA. This involves advancing exploration techniques, enhancing production activity performance, and developing human resources. Furthermore, it includes supporting decision-making processes, integrating information, and directing the company towards value-added applications for produced phosphate to maximise economic returns from phosphate ore.
The company is also committed to providing a comprehensive range of community services to urban settlements surrounding its production sites. This underscores its dedication to fulfilling its social responsibility, which has become a cornerstone of the state's public policy.
The General Assembly meeting was attended by Engineer Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC); Yasser Ramadan, CEO of the Egyptian Mineral Resources Authority (EMRA); Ashraf Bahaa, Chairperson of the South Valley Egyptian Holding Company (Ganope); Moataz Atef, Undersecretary of the Ministry for the Minister's Office, Technical Office, and Official Spokesperson; Accountant Ashraf Qotb, Undersecretary of the Ministry for Financial and Economic Affairs; Ahmed Randy, Head of the Central Administration for Communications at the Ministry; and representatives of the Central Auditing Organization.


Clic here to read the story from its source.