Category: Events

A prominent meeting was recently held that included an elite group of experts in the field of mining, headed by Major General Dr. Ahmed Abdullah, former Governor of Port Said and the Red Sea. The meeting witnessed the presence of Dr. Haitham Al-Abadi, CEO and Managing Director of North Africa Company, along with a group of foreign experts.

The meeting focused on exchanging mining experiences between local companies and their Russian counterparts, while discussing many of the challenges facing this vital sector.

The meeting touched on ways to enhance international cooperation and explore new opportunities for cooperation between the North African Company and Russian companies in the field of mining.

Participants also discussed how to overcome major obstacles and exchanged insights on best practices and new technologies that can contribute to improving productivity and efficiency.

Such initiatives are not only an opportunity to promote economic growth and technological development, but also contribute to deepening relations between countries and companies involved in these key industrial sectors.

As part of the North African Company’s interaction with the global community in the fields of mining
Major General Dr. Ahmed Abdullah, Vice Chairman of the Board of Directors, and Mr. Dr. Haitham Al-Abadi, CEO, Managing Director, and Member of the Board of Directors, headed to the United Arab Emirates to attend the International Mining Forum (MINING Show)
It is one of the largest international forums and conferences in which the largest companies operating in the field of mining and exploration gather, as well as service companies that contribute significantly to the modernization of the mining industry in the world. It is worth noting that the international forum is held annually in the Emirate of Dubai in the United Arab Emirates. ..
The North African Company’s attendance at this forum aimed to transfer international expertise to the company and keep pace with the rapid technological development in the field of mining in the world, and also to hold meetings with companies specialized in the field of mining, as well as international companies investing in the field of mining, especially the field of research, exploration, extraction, and extraction. Gold, as well as contracting and concluding cooperation protocols between companies working in the field of mining and management of global gold mines,
It is worth noting that the attendees and representatives of the North African Company met with many European, Asian, and American companies, and the discussions between the two parties extended to the exchange of experiences and joint cooperation between importing equipment and international technology and between training and qualifying the engineers of the North African Company. To deal with this advanced global technology,
The North African Company seeks to be a global Egyptian model in the Middle East and a pioneer in mining

For watching a video about the forum

Orogenic gold mineralization in the ANS formed late in the cratonization process, Due to the repeated magmatic activities, reactivated tectonic trends especially WNW- ESE and NNE–SSW and their associated fluids, many alteration halos are observed, the common presence of silica veins, clay minerals, hematite, calcite, and silicification, kaolinization, hematitization, carbonatization processes respectively along the shear zone.

 

Geochemical exploration activities during July-September 2023 focused on completion of regional reconnaissance mapping and sampling at the concession along with the subsequent integration of new mapping and sampling with historic structural data were taken across the main structure of the NW-SE trend.

NAMI is using ALS international lab for sample preparation and analysis which ALS has provided comprehensive testing solutions to clients in a wide range of industries all over the world. Samples were analyzed for gold by fire assay with an atomic absorption spectroscopy.

 

From the sample results we can easily notice the corridors of mineralization to be followed up with more systematic samples and essentially 4 main targets have been identified and currently an extensive program of sampling and detail mapping is progressing as below map.

Mr. Haitham Al-Abadi, Managing Director of the company, and Ibrahim Al-Ajmi, Director of Administrative Affairs of the company, participated in the meeting from the North African Company.

During the meeting, Mr. Haitham Al-Abadi presented a set of problems facing the mining industry in the governorate, in addition to some proposals for developing the mining sector, which were summarized in:

Firstly, it is proposed to establish a technical school to train, qualify and educate youth, specializing in the field of mining, to accommodate the market’s needs in the near future. Al-Abadi expressed the company’s willingness to coordinate in this project, and the Advisor to the President of the Republic directed him, calling on the Upper Egypt Development Authority, which was attended by Mr. Major General President The Upper Egypt Development Authority discussed the proposal and ways to implement it. Al-Abadi also presented a set of administrative bureaucratic obstacles in completing approvals for mining companies and investment companies in the mining sector and other sectors, especially obtaining environmental approvals. Al-Abadi proposed activating the one-stop-shop system to avoid such obstacles, and he directed Mr. Advisor to the President of the Republic, Mr. Chairman of the Golden Triangle Authority, quickly activate the Authority’s role in overcoming these obstacles. Al-Abadi also added by recommending solving the problem of random mining by reintegrating them into companies in a safe and legal manner.

Ibrahim Al-Ajmi, Director of Administrative Affairs at the North African Company, made recommendations to adopt e-mail and fax in communication between agencies to address slow correspondence and obtain approvals. He also called for expanding the period for renewing sign permits, which are currently scheduled to be renewed every three months, to be an annual or semi-annual renewal.

Regional Geology Of Sebai Block (DF 73):

 

The geology of the area from east to west consist of sequence of syn to post tectonic granitoid rocks in the eastern corner along wadi Dabbah -Sebai granites, Along the NW Najd Fault system shear zones, a sequence of ophiolite mélange rock units; serpentinite and related rocks, chlorite-sericite greenstone meta-gabbro and meta-andesite, chlorite-talc-ankerite/carbonate schist, carbonate schist, yellow to reddish- brown colour silica-carbonate altered rock (listwanite), acidic to intermediate metavolcanics, basic to intermediate metavolcanics, volcaniclastics, tuffs, agglomerate, metasediments, and granite/granodiorite.

Within the concession area the tectonics are dominated by compressional structures, folds, and shear zones in addition to the island arc and ophiolite layered and intrusion rock sequences there are a variety of syn to post tectonic intrusive rocks . As shown on the Regional Geology Map .

 

 

Egypt Eastern Desert (EED)

North Africa (NAMI) had awarded in The EED 2 blocks comprise 351km2 of greenfield exploration through Arabian Nubian Shield.

This area hadn’t been explored with the Modern techniques ,So Our Technical team had employed optical remote sensing data to extract geological information, depending on the geological setting of area of interest, the use of optical multispectral images is playing an important role in recent years by providing a wealth of information in this field, such as geological structure and lithological mapping, the optical images can simplify the interpretation and improve the accuracy of recognizing and detecting lithological units.. The land package is divided into 2 Blocks:

• Sebai Block DF 73  (174 km²) – The concession area lies in the Central Eastern Desert, southwest of Qusier City to form a part of the Neoporeterozoic evolution of the Nubian Shield .
• Arais Block Be 79 (177 km²) – Concession site is located northwest of the city of Shalaten, 40 km on asphalt road of Shalaten – Marsa Alam, and then 80 km on the asphalt road to the village of Abraq and then 20 km along desert track to the area .

• Remotely sensed data offers powerful tool in identifying the variations in surface mineralogy, structural elements, and geologic contacts, visual interpretation and quantitative image processing including band ratio and principal component analysis (PCA) coupled with fieldwork could be very successful in lithological mapping of the gold mineralization, remotely sensed images cannot replace this level of expertise; however, they can form valuable supplements that are more cost-effective than traditional methods, remote sensing data can give information for a larger area in inaccessible regions and help to isolate potential areas from non-interesting areas for further exploration.

• To map bedrock and identify presence and abundance of specific minerals at specific scale, it is possible to use remote sensing techniques, suitable image processing techniques are used to extract useful geological information . From

Sentinel 2 PCA Mosaic Texture drived from AW3D30 Digital Surface Model (DSM) :

• DataSer : Sentinel 2 Level L2Av
• Analysis : PCA For (B2,B3,B4,B8,B8A,B11&B12)
• Band Composition : PC1/PC2/PC3 in RGB
• Resolution : 30 meter/Pixel
• CS : WGS1984

Digital Elevation Model of NASADEM comes in 1 arc degree blocks :

• Spatial Resolution: 1 arcsecond / Pixel
• CS: WGS1984

By the beginning of Hijri new year .. praying to Allah to make it full of peace, happiness and prosperity for all Islamic and Arabic nation

 

The Golden Triangle project is one of the most important major national projects that serve the southern region of Egypt as one of the development projects that depend on the existing mineral resources.
The golden triangle is located on the coastal road. It is the one that connects the eastern borders of Egypt from the north to the southern borders. The triangle area is sandwiched between the Red Sea Governorate in the east and Qena Governorate in the west. It has a waterfront of 80 km, extending between the borders of the city of Safaga in the north and the borders of the city of Qena. And in the short to the south and west. The area of the triangle extends over 155 square kilometers (60 square miles) up to the Qena border.
The primary objective of the Golden Triangle project
Optimal utilization of raw materials in Egypt the main objective of the project, such as gold and phosphates, and increasing their return to the national economy.
The Egyptian government targets total investments of $16.5 billion, within 30 years after implementation. The project will also create great investment opportunities in southern Egypt, especially in the cement, ceramics, and quarries sectors.
“The project will raise the standard of living for the residents of Qena and Sohag governorates.” Ali Hamza, head of the Investment Committee in Upper Egypt at the Egyptian Federation, expected the investor associations that the project would stimulate tourism in the region.
Information about the Golden Triangle project, which the state considers one of its major national projects:
* The project is located in the Eastern Desert, on an area of more than 2.2 million acres, between Qena, Qeft, Safaga, and Al-Qusayr.
* The project includes industrial, mining, tourism, agricultural, and commercial areas.
* The region contains many elements of tourism, such as pristine beaches and archaeological sites.
The region is rich in mineral and quarry resources, such as gold, basalt, white sand, limestone and phosphate rock.
* One of the government’s goals in the project is to direct part of the population to live in the new area instead of the Nile Valley, and it is expected to accommodate about 2 million people.
* The project will be built in 6 phases, the first phase of which will take 5 years, and the project will take 30 years to complete.
* A capital will be established for the Golden Triangle, 100 km away from Qena.
* The Italian company “De Bologna” developed the master plan for the project in cooperation with the Industrial Development Authority.
* The Italian company’s fees were paid in the amount of $1.7 million, with a grant from the Kuwait Fund for Arab Economic Development.
* The volume of project investments is about $16.5 billion.
* The project will provide about 350,000 job opportunities.
* The project achieves annual revenues for the state ranging between 6 and 8 billion dollars annually.
* Infrastructure investments for the project amount to about $2.5 billion.

According to a report issued by the World Gold Council, the Central Bank of Egypt was the “largest buyer of gold” among global central banks during the first quarter of 2022, after it acquired 44 tons of the precious metal in February, and Egypt is also working to increase domestic gold production in the long term. Through the Sukari mine and others, Egypt also expanded in issuing tenders for gold exploration last year, and English, Canadian and Egyptian companies, including the North African Mining and Industry Company, won an international tender for gold and mineral exploration in Egypt’s eastern desert
The Egyptian General Authority for Mineral Resources said, in a statement issued in June 2022, that the result of the second round of bidding to search for gold and minerals in the Eastern Desert resulted in the awarding of 8 regions to 4 foreign and local companies, and the result of the second round of bidding represents success in attracting new investments despite the challenges. The successive global crisis represented by the Corona pandemic and then the Russian-Ukrainian crisis, with their negative repercussions on the global economy and pumping investments, the first round of bidding had resulted in the awarding of 82 regions in the Eastern Desert to 11 Egyptian and international companies
The Central Bank announced an increase in the value of gold listed in foreign exchange reserves during January 2023, to reach $7.773 billion, compared to $7.326 billion at the end of December 2022, an increase of $447 million

Gold trends during 2023

And “Gold Bullion” expected that the performance of gold in 2023 will be much better than in 2022 due to increased demand from central banks and potential ongoing geopolitical tensions. From new mines, interest rates and a weak dollar
The report touched on four reasons that support gold in 2023, including that central banks around the world, especially in China, Turkey and India, are buying gold at a record pace, and this trend has continued for the past 13 years in a row, but its pace has accelerated recently as they have increased their reserves. According to the World Gold Council, demand for gold from central banks to date is 673 tons, surpassing all annual totals since 1967

According to a report issued by the World Gold Council, central bank purchases are largely driven by flight towards safer assets due to high inflation, as the People’s Bank of China announced that it had bought 32 tons of gold at a price of about $ 1,650 an ounce, and this trend is expected to continue in 2020. 2023, which may contribute to an increase in gold prices

The Gold Billion report added that the limited supply of gold from new mines supports the rise in prices, as gold mining represents about 75% of the annual supply of gold, so the availability of gold depends to a large extent on mining production. Stagnant in recent years, it seems to have peaked in 2018, and according to the World Gold Council, the total supply of gold increased slightly (by 1% on an annual basis) to 1,215 tons as of the third quarter of 2022

Gold Bullion explained that the Federal Reserve’s tendency to raise interest rates at the fastest pace in history during 2022, to record interest at 4.5%, is expected to continue until late 2023, as interest rates are considered one of the main factors that can affect the demand for gold. It could affect gold’s attractiveness as a store of value or as an inflation hedge. When interest rates are low, investors are more likely to buy gold as a safe-haven asset, which could drive its price up

And about the fourth factor that supports gold, is the weakness of the dollar, as gold prices and the value of the US dollar tend to move in opposite directions. This led to a rise in gold prices, as an ounce targets $2,000 levels

Sir. Chairman of the Board of Directors of the North African Industries and Mining Company,  Sir. Vice-Chairman of the Board of Directors, Sir. Managing Director of the company, and members of the Board of Directors, extend their sincere congratulations to the Arab and Islamic nation on the occasion of the blessed Eid Al-Adha, Hoping that Allah return it with goodness and blessings, praying to Allah Giving us peace and prosperity for our nation in that Blessed days