Saturday, June 22, 2013

Egypt - Mineral Mine

Egypt is well aware Africa country for its high mineral potential. Almost all kinds of industrial minerals exist in paying quantities. Various metals are extracted in Egypt and especially among them are gold, copper and iron. Development of mineral resources in Egypt is organized by the Egyptian Geological and Mining Authority (EGMSA).
According to the Egyptian Petroleum Minister Abdullah Ghorab, 80% of the country's oil and mineral wealth has not yet been discovered especially in the offshore areas of the Mediterranean and in the Western Desert. According to Hassan Helmy, Professor of Geology Department, Faculty of Science, Minia, Egypt will sooner or later 5 world class gold mining operation.
Many companies have made good progress in mining and drilling of rare and precious metals in Egypt and one of them being Egypt-based miner Centamin Plc. and its flagship Sukari gold mine. According to the ministry's website Petroleum of gold production in Egypt increased steadily between 1958 and 2007, Centamin and its Sukari gold mine rose to production in 2009 with annual gold production expected 250,000 ounces
Egypt is trying to rebuild its mining industry is the aim of capturing the attention of investment capital, increasing revenues and boosting the overall economy. A strategy has been approved by the Prime Minister Hisham Qandil of Egypt to develop the mineral resources sector, presented by the Renaissance Mining Association (MRA). A note was sent by the Secretary to the Cabinet on the issue of a unified law for mining and the development of a mining plan that would be available to investors.
Billed as the largest drilling and mining conference, the Prospectors and Developers of World (PDAC) Canada "in 2013, to be held this year in Toronto, Canada, Egypt delegation will take part in. The conference will also be attended by thousands of investors, government officials and elites oil drilling and mining companies. Canada Egypt Business Council (ANC) organized a delegation to attend the conference to show participants on the latest developments and investment opportunities in Egypt. Moatez RASLAN, chairman of CEBC said that the intention of the delegation is to seek out and promote foreign investment for drilling projects in Egypt. This step is taken to provide Egyptian companies with a great opportunity to advertise and promote Egypt as a lucrative investment destination.
Overall, in Egypt, there is a great opportunity and the need to:• Investing in the mining sector• The equipment used to extract materials
Mining equipment is important for the mining industry more and, of course, there would be a strong demand for the manufacture, assembly and distributors of equipment.
The "Mining Company Shalateen" which operates under the auspices of the Mineral Resources Authority, focusing on regions Shalateen and the Red Sea to benefit from old and abandoned gold mines. Recent studies soil sediments in the region has deposits of gold. The project requires new technologies and the latest drilling and excavation machinery.
There have been discussions in the services sector Egyptian drilling on the economic and efficient use of low equipment cost, high quality, offering a long-term return on investment. Many companies are finding it difficult to increase profits, while providing quality of its operators. The Egyptian market is flooded dam complaints about the effectiveness of the equipment, the tracking service, engineering products and services costs.
There are many more indicators that the Egyptian mining sector is emerging as a place with great potential for investment and also it is related to a demand for mining equipment which is very vital for accelerated growth, and there is a need for global sourcing.
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