Cairo: The Egyptian Mineral Resources and Mining Industries Authority (MRMIA) and China's Asia-Potash International Investment (Guangzhou) Co., Ltd. have entered into a Memorandum of Understanding (MoU) to boost collaboration in phosphate exploration. The agreement, signed yesterday, aims to enhance the evaluation of phosphate ore reserves and promote value addition within the sector.

According to Nam News Network, the agreement between MRMIA and Asia-Potash is set to strengthen joint efforts in the exploration and assessment of phosphate resources. Egypt's Ministry of Petroleum and Mineral Resources noted that this partnership is a significant step towards maximizing the value of this vital resource.

Following the signing ceremony, Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, highlighted that the MoU is in alignment with the ministry's strategic vision to advance the mining sector. The goal is to elevate the sector's contribution to the national gross domestic product from the current level of less than one percent to a target range of five to six percent.