A joint protocol of cooperation between Egyptian and Australian companies has been signed to extract minerals from black sand in El-Borolos area in Kafr El-Sheikh governorate, according to a statement posted on the official Facebook page of the spokesperson of the Egyptian Armed Forces.
The contract was signed between the Egyptian Black Sands Company, an Egyptian joint stock company that falls under the Armed Forces' National Service Project Organisation, and the Australian company Mineral Technologies “as part of the state's plan to achieve comprehensive development in all sectors and to maximise the utilisation of all available economic resources.”
The contract was signed in the presence of shareholders of the Egyptian Black Sand Company and representatives from the Nuclear Materials Authority, the National Investment Bank and the Egyptian Mineral Resources Company, as well as Kafr El-Sheikh’s governor and the Australian ambassador in Cairo.
Egypt's black sand deposits, located in the Nile Delta between Alexandria and Rosetta, contain substantial reserves of heavy-minerals.
According to the statement, "the Egyptian Black Sands Company was established with the aim of activating the economic feasibility studies for the exploitation of the economic minerals from the black sands in all parts of the Republic with the adherence to the standards of international environmental and health safety, as well as achieving the added value of the extracted minerals to create national projects that contribute in the flourish of the Egyptian economy."