EBSC to receive USD 60 mn worth of equipment for black sands separation from Australia’s Mineral Technologies

The Egyptian Black Sand Company (EBSC) is expected to sign next week a USD 60 mn contract with Australian mineral processing company Mineral Technologies, which will provide the company with necessary equipment, EBSC head Ashraf Sultan tells Al Borsa. Mineral Technologies was awarded the tender to supply the drilling equipment back in August. EBSC had received an 80-feddan plot of land from the Kafr El Sheikh governorate on a right-to-use basis for 20 years to establish a factory for black sand separation, according to Sultan. EBSC had conducted aerial photography studies, which revealed black sands deposits in 11 locations across the country, Al Shorouk reports.