Aswan project marks mining milestone. (Egypt awards iron ore mining project to Aswan Development and Mining Co.)

MEED Middle East Economic Digest | October 9, 1998 | Copyright

In the summer of 1997, the Egyptian government announced that large quantities of iron ore had been discovered southeast of Aswan. Within a few months, it emerged that a number of international iron and steel companies had expressed interest in developing the mine. By early 1998, the government had decided to negotiate with a group it judged to have submitted the best proposals, and on 2 June, a 30-year renewable concession to exploit the mine was signed with Aswan Development & Mining Company (Ademco).

The company will not only mine the ore, which has been found in 15 ...

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