New Valley Company for Mineral Resources and Oil Clay (Wadico) reached EGP 2.8 billion in 2025, according to a statement by the Ministry of Petroleum and Mineral Resources( MoPMR). The statement didn’t mention the corresponding figure for 2024.
The company’s net profits exceeded the one‑billion‑pound mark in 2025, up from EGP 340 million in 2023, achieving an exceptional growth rate of 195% over the two years, the company’s chairman, Amgad Ghoneim, stated during the general assembly meeting attended by Karim Badawi, Minister of Petroleum and Mineral Resources, to approve the results of operations for 2025.
Ghoneim noted that the company’s total assets rose to EGP 3.14 billion, representing an increase of 283% compared to 2023, along with the conclusion of record contracts worth EGP 3 billion.
He added that Wadico succeeded in achieving a total extraction of phosphate ore amounting to 3.5 million tons (mmt) during 2025, while enhancing operational efficiency, which contributed to raising the daily extraction rate to 10,000 tons. In terms of fine phosphate production using mechanical separation, total output reached 1.7 mmt, with an average daily production of 4,600 tons, accompanied by sales of 1.1 mmt.
He also explained that Wadico expanded into foreign markets through negotiations to exploit phosphate ore in Saudi Arabia, in addition to signing a memorandum of understanding (MoU) to explore phosphate in Mauritania.
On the domestic front, and within the framework of maximizing added value, a strategic MoU was signed with China’s ‘Shengfa’ company to study the establishment of an integrated chemical industrial complex for the production of phosphorus and silicon in Egypt.
Ghoneim affirmed that the company has become one of Egypt’s leading firms in green mining. This is exemplified by the ongoing establishment of the first off-grid solar power station in the Egyptian mining sector, located in the Wadi El-Shaghb area of Aswan, with a capacity of 3.2 megawatts (MW). He added that this strategic project will power three production lines and all associated facilities, saving approximately 2.6 million liters of diesel annually while reducing carbon dioxide emissions by around 7,300 tons, thereby supporting operational sustainability and long-term growth plans.
Additionally, Ghoneim noted that the company owns and operates the first heavy mining equipment powered by electricity in the sector, including three dump trucks with a capacity of 70 tons each and two loaders with a capacity of 24 tons each, supported by an electric charging station with a capacity of 600 kilowatt-hours.
Wadico is a state-owned mining company providing consultancy services in the field of economic operations and utilization of mineral and quarry resources, as well as oil shale and carbonaceous materials.
