Egypt to conduct large-scale aerial mineral exploration for the first time in 42 years
Kyiv • UNN
Egypt will conduct an aerogeophysical survey of its deserts and the Sinai to search for minerals. A new database will help investors evaluate promising deposits.
Egypt has announced its first comprehensive airborne geophysical survey for mineral exploration in over 40 years. This was reported by Bloomberg, according to UNN.
Details
As part of the project, the Spanish company Xcalibur Smart Mapping will collaborate with the Nuclear Materials Authority of Egypt and the local company Drone Tech. Modern aircraft and geophysical technologies will be used to map mineral resources. The study will cover the country's Eastern and Western Deserts, as well as the Sinai Peninsula.
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, stated that this will be the first initiative of its kind in the country in 42 years. According to him, the new system will allow for the creation of a "modern, high-precision mining database," which will help investors more quickly evaluate promising deposits and reduce exploration risks.
Egypt seeks to attract investors to the mining sector
Despite the fact that gold mining in Egypt has been conducted since the time of the Pharaohs, a significant portion of the country's mineral resources remains undeveloped. In recent years, Cairo has been trying to stimulate the interest of international companies in the sector, particularly by changing regulations for investors and simplifying operating conditions for mining companies.
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