China, Egypt to enhance critical minerals cooperation

China and Egypt agreed to enhance collaboration on critical minerals supply chains, according to a Sept. 2 joint statement, as Egypt ramped up efforts to develop its mining industry.

China and Egypt made the commitment during Chinese President Xi Jinping's Sept. 1-2 state visit to Egypt, where he met with Egyptian President Abdel Fattah El-Sisi for official talks.

After the meeting, the two presidents agreed to boost Egyptian-Chinese partnerships while urging Chinese businesses to leverage Egypt's competitive strengths. Both nations will also explore cooperation in domestic manufacturing in Egypt, including electric vehicles, shipbuilding and renewable energy equipment such as solar panels and wind turbine towers, according to the statement.

Egypt expects the partnership to help the nation become a regional hub for industry, logistics, clean energy and digital economy, linking Asia, Africa, and Europe, the statement said.

Xi's visit to Egypt comes after Egypt pledged to improve the investment climate for US mining companies, Egyptian state-owned Middle East News Agency reported Aug. 27.

Egypt's mineral production includes iron ore, gold and silver, S&P Global Market Intelligence data showed. The country also hosts mineral resources such as manganese, chromium, zinc, lead and tin, according to Egypt's Industrial Development Authority.

Platts, part of S&P Global Energy, assessed manganese sulfate at $1,017/metric ton DDP China on Sept. 2, down $1/mt day over day and $8/mt lower from the previous week.