119 Companies seek to mine minerals in Egypt
Egypt aims to increase the mining sector's contribution to GDP to 6% over the next five years. Companies from Saudi Arabia, Turkey, China, and other countries plan to participate in this process. A total of 119 companies have submitted applications over the past three months.
Mining areas in Egypt cover more than 45,000 square kilometers and include promising deposits of gold, phosphates, talc, and kaolin, as well as other ores and minerals.
In May, Egypt’s Ministry of Petroleum and Mineral Resources announced the approval of a law on mining investment that reduces lease fees for mining sites by 60% for investors and lowers the minimum state equity stake in projects from 25% to 10%.
AGBI
