issam khorani: $34 Million Investment in Nubian Mining
issam khorani, Chairman of the Board of Directors of Nubian Mining, the winner of Egypt’s global gold bid in November 2020, confirmed that the investment in the mining sector in Egypt since 2019 has reached $34 million
issam khorani: $34 Million Investment in Nubian Mining
khorani explained that $5 million has already been invested in the Am Shokhib site in Aswan, $7.5 million in the Am El Ross site so far, in addition to $21.5 million for the purchase of equipment and the establishment of laboratories
The Chairman of the Board of Nubian Mining also pointed out that the direct workforce in the mine is 235, with an indirect workforce exceeding 900 people
The heavy equipment and machinery used on-site amount to 105, with a total length of prepared roads reaching 125 kilometers
issam khorani added that Nubian Mining has produced about 45 maps, including regional and detailed maps
They have prepared 172 “pads” for well drilling, drilled 184 holes with a total length of up to 11,000 meters, drilled 76 “RC” wells with a total length of 10,000 meters, and drilled 115 “core” wells with a total length of 26,000 meters. They have collected 47,000 samples, analyzed them, and obtained results for 46,000 samples
Following his inspection tour of Nubian Mining in the Umm El Russ area in Marsa Alam, Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, affirmed that the prominent attention given by the ministry to the development of the mining sector has borne fruit
The ministry has succeeded in attracting international and national investments to operate in this sector
El Molla also pointed out that the flexibility introduced by the vision of developing and updating the mining sector since 2018 enhances companies to accelerate their operations and achieve added value and returns for the national economy
The minister also confirmed the continuation of reforms in the mining sector to keep pace with developments in this field and create a conducive environment for current investments and attract new ones.
He emphasized that the efforts of Nubian Mines are evidence of progress in the exploitation of mineral resources and its increased contribution to the national economy, affirming the ministry’s support for serious investment and the removal of obstacles that may hinder the achievement of common goals
