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President of the General Authority for Mineral Resources Fikry Yousef said the authority aims to implement a new plan developed for the development of mineral wealth in Sinai by establishing industrial zones for mining of mineral raw materials, available in North and South Sinai.
Yousef revealed in a statement additional support will be provided to the Sinai Manganese Company, a public sector, by issuing more licenses to search for new ore to increase production.
The company gained 33 million EGP (U.S. $5.5 million) in profit by the end of March and has a target of 40 million EGP (U.S. $6.66 million) by the end of 2011. The company also has a production target of 868,000 tons of products by the end of 2011.
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