Arab Finance: The Mineral Resources and Mining Industries Authority (MRMIA) signed an agreement with initials to launch Egypt’s first comprehensive aerial mineral survey in 42 years, according to a statement.

The deal, witnessed by Minister of Petroleum and Mineral Resources Karim Badawi, was signed with the Spanish company Xcalibur Smart Mapping, in cooperation with the Nuclear Materials Authority and DroneTech.

The project aims to establish an accurate database of Egypt’s mineral resources, creating new opportunities for local and foreign investment in mineral exploration.

Badawi noted that the availability of advanced geophysical data would help lower the costs and risks associated with exploration activities, boosting investor confidence and encouraging further investments in the mining sector.

He pointed out that transforming the Egyptian Mineral Resources Authority (EMRA) into an independent economic entity, which was approved by President Abdel Fattah El-Sisi, enabled the authority to implement this national project.

For his part, Yasser Ramadan, MRMIA Chairman, said the aerial survey will cover six geographical areas across the country, including the southern and northern parts of the Eastern Desert, Sinai, the northern and southern parts of the Western Desert, as well as the Bahariya Oasis and Abu Tartour in the New Valley.

Ramadan added that Xcalibur will execute the project using advanced aircraft and modern survey technologies while cooperating with specialized national entities, represented by the Nuclear Materials Authority, to leverage their scientific and technical expertise.

The chairman added that aircraft affiliated with the authority will also participate in the survey in cooperation with DroneTech, maximizing the utilization of national capabilities and assets.

Xcalibur has implemented more than 1,400 aerial survey projects for governments and mining authorities across six continents.