Egypt’s mining sector achieves EGP 32 Million in September iron and steel sales

The Iron and Steel Company for Mines and Quarries has announced total sales of EGP 31.89 million for September, reflecting a strong performance in the mining sector. In a statement to the Egyptian Stock Exchange, the company revealed that sales from the Bahariya Oasis mines contributed significantly, amounting to EGP 31.76 million. Additionally, the Beni Khaled – Samalut quarries recorded sales of EGP 127.54.

Despite these figures, the company experienced a slight decline in overall sales for the past fiscal year, totaling EGP 305.51 million compared to EGP 309.92 million in the previous year. However, the firm remains profitable, reporting a net profit of EGP 125.95 million from July 2023 to June 2024, down from EGP 127.81 million in the prior period. These results highlight the company's ongoing challenges and resilience in a fluctuating market.