Egypt has an estimated 3 billion tons of geological phosphate resources, Karim Badawi, Minister of Petroleum and Mineral Resources, said during a session at the Africa Down Under Mining and Energy Conference in Perth, Australia, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Badawi said Egypt has a diverse mineral resource base, including more than 600 million tons (mmt) of iron oxide resources, as well as significant deposits of kaolin sands, bentonite, quartz, silica sands, and other industrial minerals. The country also holds gold, copper, and basic, critical, and strategic minerals across the Arabian-Nubian Shield, he added.
Speaking during a session titled “Invest in Egypt,” attended by Australian and international mining companies and financial institutions, Badawi outlined Egypt’s strategy to develop an integrated mining industry spanning exploration and extraction through processing, manufacturing, related industries, and exports. The strategy aims to increase the mining sector’s contribution to gross domestic product (GDP), he said.
Badawi stressed that the value of Egypt’s mineral wealth extends beyond the extraction of raw materials to converting them into higher-value products and establishing related industries.
In this respect, he highlighted several projects, including a phosphoric acid complex in the New Valley, with investments of $658 million, and a phosphate fertilizer complex in the Suez Canal Economic Zone (SCZONE) being developed in cooperation with global company Indorama, with investments of $525 million.
He also pointed to an integrated phosphate chemical industries project, with estimated investments of around $1 billion, which will be implemented in phases.
During the event, Badawi held some meetings with chairmen and executives from major Australian, Chinese, and South African mining companies. The discussions focused on attracting new investments into Egypt’s mining sector, particularly in gold and critical mineral exploration, and leveraging the ongoing opportunities made available through Egypt’s open-door sector mechanism.
