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Chairman of Mineral Resources Authority Fekry Yusef said that two new holding companies will be established to increase the value of mining materials. The first company will focus on investing in mining materials in Egypt, while the second will invest in mining materials in Africa, he said, The second company will start its work from Sudan and Ethiopia.
Fekry said that the Authority and Industry Ministry have agreed to carry out a number of mining projects under the umbrella of the two companies. The first one is expected to be running sometime in the next two months, he noted pointing out that the authority is mulling over allowing a number of local banks from joining the founding board and putting 40% to 50% of shares in stock market.
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