Phosphate production reflects industry woes
As any scientist knows, there is no substitute for rock phosphate. Known as P2O5, rock phosphate is the mineral that literally holds DNA together and is a crucial ingredient in agricultural fertilizers. Global supplies are finite and prices ever-increasing. Asia is the largest consumer of phosphate fertilizer and investors are turning to Egypt as technological advances make its 1 billion tons of rock phosphate reserves more economically feasible to extract.
However, despite winning accolades for an improved business environment and plentiful pro-investment rhetoric, Egypt’s mining industry has failed to secure the type of capital inflows that would help it move up the supply chain
