The Egyptian Mineral Resources and Mining Industries Authority signed a Memorandum of Understanding (MoU) with El Sewedy Capital Investments. The MoU aims to establish a partnership for the exploration, exploitation, and production of phosphate ore in the Nile Valley region (El-Sebaeya mines), in addition to increasing the concentration of the ore and preparing a feasibility study for establishing a factory to produce phosphate fertilizers.

The MoU was signed by Yasser Ramadan, Chairman of the Egyptian Mineral Resources and Mining Industries Authority, and Abdelrahman Ahmed El Sewedy, representing the Group, in the presence of Minister of Petroleum and Mineral Resources Karim Badawi and Ahmed Elsewedy, CEO and Managing Director of El Sewedy Electric Company.

The MoU covers cooperation between both parties to study, evaluate, and confirm phosphate ore reserves in the area, with the possibility of El Sewedy Group or its subsidiaries entering future negotiations to form joint ventures for exploration and production operations. The agreement falls within the framework of a strategic partnership aimed at maximising the economic value of natural resources.

After the signing, Badawi affirmed that the Egyptian mining sector is an important promising pillar of the national economy. He underscored the political leadership’s directives to increase the sector’s contribution to the GDP from less than 1% to 5-6% in the coming years.

Badawi added that the partnership with El Sewedy Group represents a model for constructive cooperation between the state and the private sector, which accelerates project implementation and achieves tangible economic returns.

For his part, Ahmed El Sewedy expressed his happiness with this step, which opens new horizons for the Group to invest in the field of mineral resources, affirming that the project will contribute to establishing transformative industries capable of achieving real added value for Egyptian phosphate.