China’s Xingfa Group signed a Memorandum of Understanding (MoU) with the Mineral Resources and Mining Industries Authority (MRMIA), Misr Phosphate Company, El Wadi El Gedid for Mineral Resources and Oil Shale (WADiCO), to develop an integrated industrial project for phosphate, quartz, and silica sand in the Golden Triangle Economic Zone.

Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the signing of the MoU which aims to assess the feasibility of establishing an integrated industrial project focused on maximizing the added value of these mineral resources, as part of Egypt’s broader strategy to develop its mining sector and enhance downstream manufacturing, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).

 Following the signing, Badawi described the agreement as a new “success story” for Egypt’s mining sector, stressing that the partnership will be guided by a clear roadmap and defined timelines to ensure effective execution.

The minister added that the collaboration seeks to develop integrated mining projects spanning exploration, prospecting, and advanced manufacturing, to increase economic returns and create higher value from Egypt’s natural resources.

For his part, Lu Ming Qing, Deputy General Manager of Xingfa Group, said the MoU reflects the company’s confidence in Egypt’s investment climate and the incentives offered by the Ministry of Petroleum and Mineral Resources. He also commended the ministry’s support and efforts to facilitate the launch of project activities.

Earlier, Xingfa said it intends to invest up to $2 billion in a major, multi-phase industrial project in Egypt’s Golden Triangle Economic Zone, aimed at developing integrated phosphate mining operations alongside high-value chemical production.