Cairo – Mubasher: The Egyptian businessman Naguib Sawiris is in negotiations to acquire a 51% stake in the state-run Shalateen Mineral Resources Company, Reuters reported on Sunday.
This move is part of plans of La Mancha’s chairman to invest in gold and copper mining in Egypt as he previously expressed his interest to invest in the mining sector in the North African nation.
The Egyptian Mineral Resources Authority owns a 35% stake in Shalateen, while the National Service Project Organization (NSPO), the National Investment Bank (NIB), and the Egyptian Company For Mineral Resources hold 34%, 24%, and 7% of the company’s capital, respectively.
