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Mining And Fertilizer Companies In Egypt Form The Backbone Of Its Economy
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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