Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, observed the signing of a shareholder agreement facilitating the establishment of a company aimed at enhancing the value of low-grade phosphate ores. This agreement involves the Egyptian Mineral Resources Authority, East Gas Company, and IMEX International.
El Molla stressed the significance of this agreement, highlighting its initiation of a noteworthy project that will enrich Egypt's extensive phosphate ore reserves and introduce advanced technology to the mining sector. This sector is currently implementing development plans to enhance its efficiency and maximize benefits across various industries, including industry, agriculture, and construction, which rely on locally sourced raw materials. He emphasized the ministry's eagerness to accelerate the project's implementation due to its importance, aligning with the government's efforts to streamline investment procedures for value-added ventures. El Molla noted that the project for enhancing low-grade phosphate ores is being executed through esteemed partners in their respective domains, including the Egyptian Mineral Resources Authority, East Gas Company, IMEX, along with implementing companies and technology providers such as thyssenkrupp UHDE, Sofreco, and Prayon.
The agreement was signed in the presence of notable figures including Engineer Mohamed Shoaib, Chairman of East Gas Company, Geologist Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority, Geologist Fekry Youssef, Managing Director of Mining at IMEX, and Engineer Nabil Hashim, Managing Director of East Gas Company.
The establishment of the new company aims to maximize the value of Egyptian phosphate ores through an advanced technology called "GetMoreP," which enhances the phosphorus concentration in the ore chemically. This technology will elevate the phosphate ore concentration to levels exceeding 37%, with the resulting high-concentration phosphate ore
targeted for global markets, particularly for manufacturers of phosphoric acid and compound fertilizers.
The decision to utilize "GetMoreP" technology, owned by PRYON, was based on its advantages over other technologies like froth flotation, including lower water consumption and the production of high-quality phosphorus pentoxide (37%). The project stands out for its self-sufficiency in generating energy from steam and power, facilitated by the sulfuric acid unit that will produce the required amount of sulfuric acid by converting sulfur into sulfide with steam and power.
El Molla also witnessed the signing of the project implementation contract between East Gas, IMEX, thyssenkrupp UHDE, represented by Jörg Ritzmann, CFO, and Sofreco, represented by Gilles Debwaison, CEO. Sofreco International will oversee project management consultancy during the various implementation phases, while ThyssenKrupp UHDE will handle project execution due to its extensive experience in the fertilizer industry. The project aims for a production capacity of one million tons of raw material per year, with a total cost of $250 million.
The signing ceremony was attended by Engineer Alaa Khashab, Deputy Minister for Mineral Resources, Dr. Hisham Lotfy, Assistant Minister for Legal Affairs, Engineer Hassanin Mohamed, Head of the Central Administration of the Minister's Office, Dr. Mohamed El Bagoury, Director General of Legal Affairs at the Ministry of Petroleum, and representatives from East Gas, thyssenkrupp UHDE, Sofreco, Prayon and Promotrade.
