Egypt is doubling down on its ambition to become the Middle East and Africa’s leading mining and phosphate processing hub, according to strategic statements made by Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, during the Misr Phosphate Company’s General Assembly for fiscal year 2024.
At the heart of this vision is a sharp focus on value-added industrial projects, infrastructure modernization, and a restructured mining authority aimed at raising the sector’s GDP contribution to 5–6%, up from less than 1% currently.
“We are repositioning Egypt as a regional nucleus for mining innovation and industrial transformation,” said Minister Badawi. “Our geographic advantage, combined with a revamped mining system and investments in high-value processing, puts us on track to generate hard currency returns through exports while bolstering local manufacturing.”
According to Engineer Mohamed Abdel Azim, Chairman of Misr Phosphate, the company is actively leading this transformation with robust performance indicators and strategic investments.
- FY2024 Net Sales: EGP 7.9 billion (149% YoY growth)
- Net Profits: EGP 3.3 billion (194% YoY growth)
- Export Share: 50% of Egypt’s total phosphate ore exports
- Domestic Support: Full local market coverage with various ore grades
The company holds mining licenses in Abu Tartour (New Valley), Red Sea riot zones, and Sebaia (Nile Valley)—managing operations across multiple concessions.
“We’re working to sustain growth by expanding our geological footprint,” Abdel Azim noted. “Exploration and reserve confirmation drilling is ongoing, supporting continuity in production and boosting Egypt’s raw material leverage.”
Misr Phosphate is pursuing two mega value-added projects that could redefine Egypt’s industrial role in the global fertilizer supply chain:
- Phosphoric Acid Plant (Abu Tartour) – $640M investment | 24% ownership stake
- Fertilizer Joint Venture with Indorama (India) in Ain Sokhna – $500M investment
These projects are aligned with Egypt’s green economy vision and the state’s efforts to shift from raw material exportation to high-margin downstream industries.
Industry expert Dr. Amr El Shafei, a mining economics consultant, said “Egypt has long held untapped mineral reserves, but now, through modern mining governance and public-private partnerships, the country is poised to move up the value chain.”
One of the headline announcements is the ongoing transformation of the Mineral Resources Authority into an economic authority, which aims to modernize policy, licensing, and investment regulation.
The Minister also called for a full inventory of phosphate reserves, a five-year action plan with strict timelines and Institutional development in data systems, human capital, and operational efficiency.
An upcoming ministerial visit to Abu Tartour will assess ground-level progress.
