Arab Finance: The Ministry of Petroleum and Mineral Resources has announced the results of public bid no. 1 of 2024 for the exploration of glass and kaolin sand in Egypt’s Eastern Desert, awarding exploration rights to four companies across seven sectors, as per a statement.

The bid attracted strong interest from the mining industry, with 20 companies, 19 of them are from the private sector, submitting a total of 38 offers.

It included four blocks for glass sand and three for kaolin sand, reflecting growing investor confidence in Egypt’s mining investment climate and the ministry’s policies promoting transparency and fair competition.

After reviewing the bids as per the approved technical and financial standards, the ministry awarded the blocks to the companies that submitted the most competitive offers.

Arab Mines and Quarries Company was awarded Sector GS 1 for glass sand.

Spillco Egypt Raw Materials Company secured exploration rights for Sectors GS 3 and GS 4, also for glass sand.

Pacific Mining Company was awarded Sector KS 1 for kaolin sand, while International Petroleum Services Company (INCOM) won Sectors KS 2 and KS 3, also for kaolin sand.

The ministry affirmed that the Egyptian Mineral Resources Authority strictly adhered to the legal procedures governing the bidding process, maintaining the highest standards of integrity and transparency.

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