Skip to content Skip to Search
Skip navigation

Egypt set to issue tenders for precious metal mining

Mining, Truck, Vehicle Reuters/Jose Miguel Gomez
Egypt has launched a geophysical survey programme to identify areas with potential rare metals

Egypt will issue tenders for mining precious and basic metals between July and September 2023, according to minister of petroleum and mineral resources Tarek El Molla.

The tenders will be for mining precious metals, phosphate, sulphur and potash, he added.

The minister stated that the government has launched a regional geophysical survey programme, which includes building remote-sensing satellites to identify areas with potential rare and radioactive metals resources, Ahram Online reported.

A report in April by Fitch Solutions said Egypt produced 9.8 million tonnes of steel, making it the largest steel producer in Africa and the second largest in the Mena region in 2022.

Egypt in June last year awarded eight gold and metal mining exploration licences in its eastern desert region to attract $40 billion in private investment in the next four years.

Earlier this month, Egypt disclosed plans to invest $9 billion in building new oil refining and gas projects.

Projects will be started in Alexandria, Assiut and Suez, the petroleum ministry said, adding it will allow maximising value from its extensive natural resources.

Latest articles

A sheep farm in Pukekohe, North Island, New Zealand. The country exported meat worth $155m to the GCC in 2023

New Zealand agrees free-trade deal with GCC

The GCC has agreed a new free-trade deal with New Zealand. The agreement will give duty-free access to 99 percent of New Zealand exports over 10 years, according to New Zealand trade minister Todd McClay.  McClay said the agreement was the culmination of an 18-year-long ambition to agree a trade deal in the Middle East. […]

A Saudi man walks at the Tadawul Saudi Stock Exchange, in Riyadh, Saudi Arabia

Kuwaiti companies looking at Saudi exchange listings

Kuwaiti companies are eyeing up opportunities to list on Saudi Arabia’s Tadawul exchange, according to reports. It comes almost two years since deals were signed between market regulators in both Gulf states to explore collaboration around cross-listings on the Tadawul and Kuwait’s bourse. Firas Al-Salem, chairman of the Kuwaiti Business Council, said that listings could […]

The Riyadh monorail will connect with the Metro running through King Abdullah Financial District

Driverless monorail planned for Riyadh’s financial district

An agreement to launch a driverless monorail project has been signed by King Abdullah Financial District (KAFD) in the Saudi capital Riyadh. The 3.6-kilometre system will have six trains travelling on an elevated circular track that will wind between the main towers of the district.  The system will have six stations across the district, connecting […]

Delegates watch PIF governor Yasir Al-Rumayyan speak at FII in Riyadh. He said Saudi Arabia is focusing on domestic investment

PIF signs Japan and Hong Kong pacts worth $52bn

Saudi Arabia’s Public Investment Fund has signed memorandums of understanding (MoUs) worth up to $51 billion with five Japanese banks.  The kingdom’s sovereign wealth fund said the agreements cover a variety of areas, including encouraging two-way capital flows through both debt and equity.  The agreements were signed with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG […]