The statement added that the initiative was implemented in collaboration with the United Nations Development Programme (UNDP).
Egyptian law punishes licensee who extracts mineral resources from mines, quarries or Salinas that are outside the limits of his license with a fine of no less than L.E. 100,000 and not exceeding L.E. 5 million.
The National Company for Iron and Steel is going through a horizontal split-up, a difficult step that was met with widespread criticism, prompting the Cabinet to explain the decision in a statement.
President Abdel Fatah al-Sisi appointed on Saturday Vice Admiral Osama Rabie as chairman of the Suez Canal Authority to succeed Vice Admiral Mohab Mamish.
Some 1,000 civilians were killed as a result.
Glencore didn’t disclose financial targets for the proposed sale.