New Valley Company for Mineral Resources and Oil Clay (Wadico) Chairman Amgad Ghoneim said that his company expanded its drilling activities for phosphate ore, adding new reserves estimated at approximately 6.6 million tons. He stated that this is an unprecedented increase of 160% compared to the additions made in 2023, and a 53% rise over the total reserves confirmed since the company’s inception nearly 20 years ago.

Reviewing the company’s activities and work results in 2024, Ghoneim explained that thanks to Wadico’s operational strategy, tangible results were achieved in 2024 to maximize exploration, extraction, production, and contracting efforts. He mentioned this during Wadico’s general assembly meeting, which was attended by the Minister of Petroleum and Mineral Resources, Karim Badawi, to approve the 2024 work results.

Ghoneim indicated that the company also significantly increased the quantities of coarse phosphate ore extraction, accounting for 70% of the total quantities extracted since the company’s establishment. This reflects a clear surge in phosphate ore extraction operations, which amounted to approximately 1.3 million tons, an increase of 92% over what was extracted in 2023.

Furthermore, he indicated a 35% increase in explored areas for phosphate ore and the addition of two new work regions. Regarding kaoline sand ore, he explained that the company plans to maximize the added value from this raw material, whose production increased by 20% during 2024 to approximately 186,000 tons.

The company began 2025 with a strong reserve balance estimated at 6.4 million tons, compared to only 5 million tons at the beginning of 2024, reflecting the efficiency of extraction in parallel with maximizing reserves.

Ghoneim added that the company carries out integrated mining operations for the extraction and utilization of phosphate, kaoline sand, and feldspar ores from sites extending between Edfu in Aswan and Wadi Qena in southern Egypt.

The company’s chairman also affirmed that Wadico possesses a strong infrastructure and advanced logistical capabilities, including equipment, devices, and laboratories. These are currently being bolstered to keep pace with ambitious growth plans and increased production in the coming years.

During the assembly, Badawi emphasized the importance of maximizing the added value from mineral raw materials, especially from phosphate. He noted that the next phase will focus on local manufacturing of raw materials instead of exporting them in their primary form, which will ensure maximum economic benefit.

The Minister also pointed out the importance of promptly developing an integrated, five-year future vision for the company’s business development. He directed the creation of a clear future plan for the company to enable it to expand operations outside of Egypt for the first time.

Wadico is an Egyptian joint-stock company whose operations involve exploring mineral resources, metals, oil shale, and carbonaceous materials, as well as extracting them, and maximizing their utilization by preparing and conducting industrial processes on them.