Egypt eyes first aerial survey in 40 years to map mineral riches
Egypt will carry out its first comprehensive aerial mining survey in more than four decades, part of efforts to unlock mineral discoveries and attract foreign investment.
Xcalibur Smart Mapping will work with Egypt’s Nuclear Materials Authority and local company Drone Tech, using advanced aircraft and geophysical technologies to map the North African country’s mineral wealth, authorities said Sunday in a statement.
The survey, covering areas including Egypt’s Eastern and Western deserts and the Sinai Peninsula, marks the country’s first such activity in 42 years, Energy Minister Karim Badawi said at a signing ceremony.
It will create a “modern, highly accurate mining database” to help investors identify commercially viable mineral deposits faster and with lower exploration risk, Badawi said.
Though Egypt has a history of gold-mining that stretches back thousands of years to the time of the ancient pharaohs, its mineral wealth remains largely undeveloped.
Seeking to boost investor interest, Cairo about six years ago introduced new regulations that limited levies and dropped a requirement that miners form joint ventures with the government.
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