Seminar for the Project of Utilizing the Separation of Black Sand Minerals

IDA Chairman stated that the feasibility study and the TOR are available and the deadline of the bid submission was postponed to the 21st of next June. Moreover, 3 specialized international companies withdraw the TOR, IDA Chairman pointed out.

IDA Chairman indicated that the project aims at extracting the minerals from The Sand Dunes to utilize them in establishing major industries. These sand dunes are rich with various minerals such as (Titanium, Zircon, Granite, and Magnetite). The definite mineral reserve in these sand dunes is estimated at 285 million tons.

The Nuclear Materials Authority contracted with one of the international consulting firms specialized in the black sand industry which is the Australian Downer Mining Company. The company also contracted with 4 international consulting offices specialized in the resources, the reserve, the engineering designs and the financial aspects and they ended up with preparing a high quality feasibility study for the project.

In addition, Dr. Aktham Abu AL Ela, Deputy of the Ministry of Electricity and Energy, said that the method of payment for the license value will be 25% - instead of 50% - at the end of the auction and the rest in equal installments for three years under the terms provided in the TOR. IDA Chairman added that the investor who will obtain the license has to submit all the nuclear materials to The Nuclear Materials Authority.

Dr. Aktham Abu AL Ela stated that the project's investment indicated in the feasibility study amounted to $125 million.

In response to the TOR bidders and the investors, interested in this project, both authorities approved to:

To the bidders interested in obtaining a full copy of the feasibility study, the charge against receiving this copy is reduced to 50 thousand USD instead of 200 thousand USD as previously announced on IDA Website www.ida.gov.eg and Website www.etenders.gov.eg. Also reduction is made regarding the down payment of the license to 25% instead of 50% to the bidder who will be awarded the project. The rest will be collected during the next 3 years divided on equal payments as conditioned by the TOR.
The TOR (attached to it a brief of the feasibility study) is available in LE20.000, from IDA General Department of Procurement starting from 17th Feb.2010
The applicant has to submit the initial guarantee letter with LE10 million.
Executive Summary Of The Comprehensive Economic Feasibility Study To Exploit The Black Sands At El Burullus Dunes