2022

Egypt is rich in phosphate reserves, mining enterprises operating conditions slightly improved

Abu Tartour, located in Egypt's New Valley Governorate, has the world's second largest phosphate mine, with proven reserves of 0.7 billion tons and estimated total reserves of about 100 billion tons. The mine's mining director, Mamdouh Ati, said Abu Tartour had abundant phosphate reserves that, if used properly, would boost Egypt's economy. The total area of the mining area is about 1200 square kilometers, and the current mining area of the Egyptian Phosphate Company is only 122 square kilometers. It is estimated that a profit of $33 million per 0.1 billion tons of phosphate mined.

Despite the profit prospects, the mine has been operating poorly. In 2003, mining companies owed as much as 13.4 billion Egyptian pounds. In 2011, the Egyptian Central Audit Office (CAO) reported that the mine's auxiliary development investment in transportation, port power and other aspects has exceeded the estimated cost by 352. Due to poor planning and lack of feasibility studies, the mine was once a typical waste of public funds. In order to reverse the situation, the Egyptian government has reorganized the mining enterprises and established the Egyptian Phosphate Company (EPC). However, due to the miners' strike, the mine had lost as much as 5 million Egyptian pounds a day. Recently, a settlement has been reached between the enterprise and the miners, and the business situation has improved. In 2015, the company sold 1.5 million tons of phosphate raw materials and made a profit of 90 million Egyptian pounds.

According to industry insiders, experts in the United States believe that the phosphate raw materials of the mine are of good quality and can generate huge economic benefits if used to produce chemical fertilizers. Egypt should build a phosphate fertilizer production enterprise in the local area, which can not only produce considerable economic benefits, but also solve the employment problem of more than 3000 people.

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Egypt is rich in phosphate reserves, mining enterprises operating conditions slightly improved

2022-06-16