ECMR to Increase Capital to EGP 750 M

ECMR to Increase Capital to EGP 750 M

The Egyptian Company for Mining Resources (ECMR) held a general assembly to approve the business results for the fiscal year 2022/23, and to increase the company’s capital from EGP 250 million to EGP 750 million.

During the assembly, the company’s chairman, Hany Mostafa, reviewed the most important business results achieved during the year, as he explained that the company was able to increase its production capabilities of mineral ores, most notably phosphate ore, producing approximately 660,000 tons from the mines of Wadi Ash-Shaghoub and Wadi Sharawna Marine in Aswan Governorate, and the mines of Wadi Al-Qarya in Qena Governorate.

Meanwhile, Manganese production reached about 6,000 tons from the Abu Shaar mine in the Red Sea Governorate

During the last quarter of the year alone, the company was able to produce about 17,500 tons of sandy kaolin ore from the Bir Al-Duhli mine in the Red Sea Governorate, and about 2,000 tons of quartz and talc from the Wadi Atallah mine.

Mostafa added that the company works in all activities and fields of extraction and exploitation of mineral raw materials, the most important of which are phosphate, iron oxide, manganese, quartz, talc and kaolin sand.

Moreover, Mostafa highlighted the company’s interest in intensifying research and exploration operations to confirm the presence of mining resources in an economical manner, the most important of which are phosphate, feldspar, lead, zinc, talc and kaolin.

Sarah Samir 3297 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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