Egypt’s New Valley Company for Mineral Resources and Oil Shale (WADICO) reported a 195% surge in its 2025 net profit to over EGP 1 billion, fueled by EGP 2.8 billion in operating revenues and EGP 3 billion in contracts. The firm signed a strategic memorandum of understanding with China’s Xingfa to explore an integrated chemical industrial complex.
WADICO held its general assembly via videoconference to approve 2025 results, attended by Minister of Petroleum and Mineral Resources Karim Badawi. Chairperson Amgad Abdel Razek Ghoneim stated the figures reflect the 2024-2028 institutional development strategy, with total assets up 283% to EGP 3.14 billion from 2023.
The company extracted 3.5 million tonnes of phosphate ore at a daily rate of 10,000 tonnes and produced 1.7 million tonnes of fine phosphate averaging 4,600 tonnes daily, achieving sales of 1.1 million tonnes. Expanded exploration confirmed new reserves ensuring production for over eight years, Ghoneim added.
To grow operations, WADICO signed an MoU with Xingfa for a phosphorus and silicon chemical complex in Egypt, is discussing Saudi phosphate exploitation, and inked an MoU for Mauritania exploration.
Under green mining efforts, it is building the sector’s first off-grid 3.2-megawatt solar plant in Aswan’s Wadi Al-Shaghab, saving 2.6 million litres of diesel yearly and cutting CO2 emissions by 7,300 tonnes. The firm deployed electric heavy equipment including three 70-tonne trucks and a 600 kWh charger, alongside AI-integrated ERP for zero human intervention in production.