Egypt’s new Ministry of Mines and Energy (MOEC) has announced it will open the country’s largest meteorite mine, located near the southern city of el-Arish, to foreign investors.
The MOEC will open a project to mine a massive 1,000 tons of meteorite for use in the countrys biggest industry, according to the Egyptian Ministry of Science and Technology.
The MOEC said the meteorite would be sent to a country that can produce a significant quantity of its own meteorites.MOEC CEO Ahmed El-Din said the project would open up a major opportunity for foreign companies interested in mining the meteorites for their own purposes.
The project will also benefit the country from the use of meteorites to produce medicine, biofuels, metals and metals products, the MOEC statement said.
The ministry will also develop and launch a program to increase Egyptian manufacturing capacity and will allocate millions of dollars to the country to support Egyptian scientists, technicians and engineers in this field, the statement said, adding that the project will contribute to Egypt’s national competitiveness.
The Ministry of Minerals and Energy said it would also open up new mines for domestic mining, and invest in technology development to support foreign mining operations in the Egyptian sector.
The new MOEC is set to create jobs in Egypt.
In January, the ministry said that 1,500 jobs would be created at its newly-created Egyptian Metals and Metals Industry Development and Investment Program.MOERC will also invest in the MOEMA-3 (Meteorite-Oriented Mineral Development and Manufacturing Program) to invest in local mining companies and encourage investment in the development of meteoritic minerals, according the statement.
The Egyptian Ministry for Science and Technologies (MoSEA) will also create an economic zone to support industry, with a goal of opening up at least 15 new mines and to increase production capacity by 500,000 metric tons annually, according MoSEA.MOEMA also announced that the MOEEC will be responsible for the development and marketing of the MOERIS meteorite mining project.MOEEC Director-General Ahmed El Shafiq said that the development program will create more than 200 jobs in the meteoritic mining industry.
The Meteorite-Erich meteorite is the largest and most important meteorite of the Asteroid Belt.
It is considered a valuable natural resource because of its composition and composition and the abundance of meteoroid elements that it contains.