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Arab Steel Summit

Africa

Egypt: Iron and steel mine profits rise to more than EGP 113 million within 9 months

The financial indicators of the Iron and Steel Company for Mines and Quarries showed the first 9 months of the current fiscal year. The company’s profits increased by 16%, on an annual basis. The company explained in a statement to the Egyptian Stock Exchange. It recorded profits after taxes amounting to EGP 113.255 million in …

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Algeria: Signing three agreements and contracts for mining and mining projects with Chinese and Turkish companies

In Algiers, three agreements and contracts were signed relating to mining and mining projects in Gara Jbeilat (Tindouf), Thala Hamza Oued Amizour (Bejaia) and Bechar, between national companies and international partners. The signing took place on the sidelines of a ceremony commemorating the 58th anniversary of the nationalization of mines and the 57th anniversary of …

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The General Iron and Steel Mines approves the estimated budget and reduces the targeted surplus

The Ordinary General Assembly of the Iron and Steel Company for Mines and Quarries approved the company’s estimated budget for the next fiscal year 2024-2025. According to a company disclosure, the general assembly decided to amend the company’s estimated budget to target a surplus of 300 million pounds, provided that the quantity and value of …

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Arab Iron and Steel Union holds the 128th Board of Directors meeting and the 57th General Assembly in Algeria

The meeting of the 128th regular session of the Board of Directors of the Arab Iron and Steel Union and the 57th regular session are scheduled to be held during the period May 19-20, 2024 in the city of Algiers – Republic of Algeria at the Eurasian Hotel – Algeria at the  invitation of the …

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Egypt: Iron and Steel for Mines and Quarries sells worth 34.24 million pounds in March

The Iron and Steel for Mines and Quarries announced that it achieved total sales in the month of last March amounting to 34.242 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during the month of March amounted to 34.232 million pounds. The company …

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The Chinese “Xin Feng” is establishing a factory for iron products in Egypt for $300 million

The General Authority for the Suez Canal Economic Zone in Egypt signed a contract granting a usufruct right for a land with an area of 750,000 square metres, to the Chinese company “WU’AN Million dollars. The authority said in an issued statement that the project provides 1,200 job opportunities, aims to export 70% of its …

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Memorandum of understanding between Libyan Iron and Steel Company and the Italian company Danieli

The Libyan Iron and Steel Company signed a memorandum of understanding with the Italian company Danieli to launch a project to implement a direct reduction plant. The Libyan company made the statement through its official Facebook account. The factory will produce two million tons of sponge iron and hot-molded iron annually. Sponge or hot-molded iron …

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Ezz Steel turns to losses and incurs 716.53 million pounds during 2023 due to currency differences

Ezz Steel Company explained in a statement to the Egyptian Stock Exchange that it achieved losses amounting to 716.530 million pounds during 2023, compared to profits amounting to 6.647 billion pounds during the comparative period of 2022, affected by its losses from currency differences amounting to 30.9 billion pounds. According to the company’s disclosure, taking …

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Egypt: 19.1 million pounds in iron and steel sales to mines during February 2024

The Iron and Steel Company for Mines and Quarries announced that it achieved total sales during the month of February of 19.086 million pounds. The company explained, in a statement to the Egyptian Stock Exchange today, that sales of Bahariya Oasis mines during December amounted to 19.08 million pounds. She added that the sales value …

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Egypt recalculates petroleum subsidies in the 2024-2025 budget

The Egyptian government intends to recalculate petroleum subsidies in the budget for the next fiscal year 2024-2025, after moving the prices of all categories of gasoline and diesel last night, according to statements by Egyptian Finance Minister Mohamed Maait. About 72 hours ago, the Egyptian Ministry of Finance revealed some indicators of the 2024-2025 budget, …

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Egypt’s steel imports decreased by 18% to $4.2 billion in 2023

Egypt’s imports of iron and steel declined by 17.8% during 2023, to record about $4.216 billion, compared to $5.133 billion during 2022, accounting for 5.1% of total Egyptian imports during this year. The data of the Central Agency for Public Mobilization and Statistics explained. 10 countries accounted for 83.5% of Egypt’s total iron and steel …

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Launching the first training course for workers of the National Iron and Steel Company to exploit the Gara Jbeilat mine

The Governor of the state of Tindouf, Mr. Dahou Mustafa, and the President and Director General of the SONARAM complex, Mr. Mohamed Sakher Harami, in the state of Tindouf, supervised the signing ceremonies of work contracts for young people from the state of Tindouf, in the presence of the presidents and general directors of the …

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Arab Iron and Steel Union holds the eighth meeting of the Economic Committee in Algeria

The Arab Iron and Steel Union held the eighth meeting of the Economic Committee in Algiers, Republic of Algeria, during the period from 4 to 5 March. The committee meeting was attended by representatives of the following countries: the Arab Republic of Egypt – the Republic of Algeria – the State of Kuwait – the …

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General Manager of the Algerian Qatari Steel : About $1.2 billion in the company’s transaction volume in 2023

Mr. Youssef bin Ahmed Al-Mohannadi, member of the Board of Directors and General Manager of the Algerian-Qatari Steel Company, revealed that the company’s turnover reached about 1.2 billion dollars in the year 2023. After the production pace reached nearly 1.7 million tons of finished products, more than 700 thousand were exported. tons of it to …

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