The
backbone of Egypt is its mining industry. Egypt is a mineral rich country and
most of its population is dependent on mining or services related to mining.
Some of the most abundantly found minerals in Egypt include iron ore, coal,
asbestos, quartz and tantalite. Industrial form of phosphate rock fertilizer is
yet another mineral which has contributed greatly to the Egypt’s economy. The
deposits of minerals in the world are found in Egypt only. There are many
mining and fertilizer companies in Egypt.
The Iron Ore Industry
Iron
ore is one mineral which is found in maximum quantities in Egypt and thanks to
this abundance in its availability, it is mined as well on a consistent basis. There
are a large number of countries in the world which buy iron ore from Egypt and
use them for various purposes in their own countries. Since the demand for this
mineral is high, therefore, the Egyptian government has put many strict rules
and protocols in place which one needs to follow in order to get the required
permission needed to buy iron ore in
Egypt. One would assume that considering the fact that iron ore is such an
important mineral for Egypt and also seeing the way this country has developed
in various other sectors, that the iron ore mining sector would also have
become highly modernized. But, unfortunately such is not the case. The methods
used for iron ore mining continue to be primitive. There has been absolutely no
progress made in this mining section of the country. There has been absolutely
no advancement in the technologies that are being used for mining of iron ore
in this country. The main reason for this is that the persons involved in this
mining sector do not wish to make any big investments in this sector. This
industry demands huge investment and the return on those investments are
realized after a considerably long period of time.
The Fertilizer Industry
In
spite of the constant fluctuations that have occurred in the fertilizer
industry all over the globe, the industry for fertilizers in Egypt has been
growing at a steady pace. The main fertilizer, which is being processed and
exported from this country, is rock phosphate fertilizer. The basic use of this
fertilizer is in providing nourishment to various plants that bear fruits. It
can be used for other plants as well except grain. The fact that phosphate
containing minerals are found in this part of the world in very high quantities
has been the main factor which has led to the boost in the production and
export of this fertilizer. Besides exports, this fertilizer is being consumed
at home as well in domestic industries. The combined demand for this fertilizer
for home consumption and export purposes has made the rock phosphate fertilizer
manufacturing industry really big in Egypt.
Petroleum Products In
Egypt
The
production process of Fertilizers
Companies in Egypt requires large quantities of petroleum. This has
resulted in an increase in the demand for petroleum products in Egypt. This
increased demand is made even more acute when it is culminated with an
increased domestic demand for the petroleum products. In spite of some serious
efforts by the Egyptian government to promote the use of natural gas like crude
oil, as a substitute for petroleum products, the use of petroleum products
cannot be dispensed with.
Most
of the fertilizer companies are buying these petroleum products online in Egypt. The reason behind this move is
quite apparent. The shortage in the supply of domestic petroleum products in
comparison to the increased demand has led to a huge demand and supply gap in
the country, forcing fertilizer manufacturers to buy their requirements online
from other suppliers. Besides, encouraging fertilizer companies to go in for
natural gas as a replacement for petroleum products, the government has also
signed more than two hundred agreements in the field of exploration of petroleum
products in Egypt. This increased exploration activity in the past two decades
has led to the discovery of many new natural oil reservoirs as well as crude oil fields. The discovery of
these crude oil fields and natural gas reservoirs has helped in the Egyptian
economy a lot. Thanks to these discoveries the economy of Egypt has seen some
major boosts.
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Iron Ore in Egypt
