Cairo – Mubasher: The board of directors of Iron and Steel for Mines and Quarries approved the establishment of a cost centre for the semi-industrial iron concentration unit in Bahariya Oasis in partnership with a Ukrainian company.

Operations at the unit will begin on 1 June, according to a bourse disclosure on Tuesday.

In January, the Egyptian Iron and Steel’s (Hadisolb) shareholders approved a decision to liquidate its steel plant and spin off its mining operations.

On Monday, Hadisolb appointed Mostafa Hassan Mahmoud Omar as a liquidator and halted operations at all factories except the oxygen plant.