Egypt has begun searching for new mineral deposits for the first time in over 40 years — Bloomberg
Egypt is launching its first comprehensive aerial survey of mineral deposits in more than four decades as part of efforts to attract foreign investment in the mining sector.
This was reported by Bloomberg.
According to a statement from the authorities, Xcalibur Smart Mapping, in collaboration with the Nuclear Materials Authority and the local company Drone Tech, will use modern aerial and geophysical technologies to map the country’s mineral resources.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badavi, stated that the survey will cover the Eastern and Western Deserts, as well as the Sinai Peninsula. According to him, this will be the first such survey in the last 42 years.
The project is expected to create a modern, high-precision database of deposits, allowing investors to identify promising deposits more quickly and reduce business risks.
Despite a millennia-long history of gold mining dating back to the time of the pharaohs, a significant portion of Egypt’s mineral resources remains under-explored.
To boost investor interest, Cairo reformed the industry’s operating rules about six years ago—limiting fees and eliminating the requirement for mining companies to form joint ventures with the state.
The Egyptian Ministry of Foreign Affairs sharply criticized Somaliland’s intention to open a diplomatic mission in Jerusalem, calling it a violation of international law.
Egypt has officially launched the large-scale agricultural project “New Delta,” which involves growing wheat and other crops on land reclaimed from the desert using an artificial water supply system.
