Mining Complexes for Gold, Phosphate & Copper to Be Built Across Egypt
The Ministry of Petroleum and Mineral Resources also plans to establish a gold refinery at Marsa Alam, just south of the Eastern Desert, which is is believed to hold over 1 million ounces of gold.
Looking to take advantage of Egypt's rich veins of natural resources, the Ministry of Petroleum and Mineral Resources will create new industrial mining complexes across the country. A new gold mining complex will be built in the Eastern Desert, while a mining complex for copper will be built in Sinai and one for phosphate will be built in the Western Desert.
The Ministry of Petroleum and Mineral Resources also plans to establish a gold refinery at Marsa Alam, just south of the Eastern Desert, which is believed to hold over 1 million ounces of gold with deposits worth up to USD 1 billion.
The mining sector is expected to grow tenfold by 2040, which would add 5% to Egypt's annual gross domestic product.
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