Egypt’s Ministry of Petroleum and Mineral Resources signed a memorandum of understanding with China’s Xingfa Group on Tuesday to evaluate phosphate, quartz, and silica sand ores for an industrial project in the Golden Triangle region.
The agreement, witnessed by Minister of Petroleum and Mineral Resources Karim Badawi, involves the Egyptian Mineral Resources Authority (EMRA), Misr Phosphate Company, and WADECO. The project is designed to maximise the added value of Egyptian mineral ores and establish the country as Xingfa’s largest industrial hub outside of China.
“This agreement represents a new ‘success story’ for the Egyptian mining sector,” Badawi said, noting that the partnership is moving from “promises to implementation on the ground according to specific timelines and a clear roadmap.”
Lu Mingxing, deputy general manager of Xingfa Group, stated that the signing reflects confidence in Egypt’s investment climate and the incentives provided by the ministry. He confirmed the group’s commitment to transferring modern technologies to transform Egypt into a regional centre for the export of specialised chemicals.
The memorandum was signed by Lu Mingxing, Yasser Ramadan, chairman of EMRA, Mohamed Abdel Azim, Chairperson of Misr Phosphate, and Amgad Ghonaim, chairman of WADECO.
The signing follows discussions held last week regarding the Chinese group’s intent to inject investment into the Egyptian mining sector. Badawi stated that the strength of Egypt-China relations serves as a primary guarantee for the success of the investment in the Golden Triangle.
Lu Mingxing extended an official invitation to the minister to visit the group’s headquarters and factories in China to view the facilities that the Egyptian project intends to simulate.
