Egypt is prioritising the transformation of its mineral resources into high-value industries and products to maximise their contribution to the economy, Petroleum and Mineral Resources Minister Karim Badawi said on Thursday.
Badawi chaired a meeting to review progress on a series of projects aimed at processing Egyptian phosphate ore into phosphate fertilisers, phosphoric acid and other higher-value products in partnership with local and international investors.
“Maximising the added value of mineral resources is a key pillar of the ministry’s strategy to develop the mining sector,” Badawi said, according to a ministry statement.
Egypt has promising mineral resources, but the objective is to move beyond the extraction of raw materials and establish industries based on them, generating greater economic returns, he added.
The meeting reviewed several projects, including Abu Tartour’s phosphoric acid production plant in New Valley governorate, and a planned integrated phosphate and fertiliser complex by Elsewedy Group in the Suez Canal Economic Zone.
Other projects include those by Polyserve Fertilisers and Chemicals, Chinese company Xingfa, Moving Vert and Genesis to extract, process and manufacture phosphate-based products, as well as a phosphate industries complex with global company Indorama.
The meeting also reviewed Incom’s project to separate kaolin sands in an effort to increase the economic value of mineral resources.
Badawi instructed the Mineral Resources and Mining Industries Authority to intensify engagement with investors, provide support to new entrants and help overcome obstacles facing projects already under implementation.
He also called for streamlined procedures and closer coordination among government bodies to speed up investment decisions and project execution.
The minister said the ministry fully supported the authority’s efforts to attract investment and help achieve the state’s objectives in the mining sector.
