ASCOM is a mining, geology and materials company operating in North and East Africa with operations in geological drilling and mining consultancy and precious metals exploration. With an original focus on providing products and services for the cement sector in Egypt, ASCOM has significantly expanded its scope and operational vision. While creating value in Egypt’s mining sector, the company has successfully diversified its revenue streams by focusing on capturing potential growth in the industrial minerals sector with its only two subsidiaries: ASCOM Carbonate and Chemical Manufacturing (ACCM), one of Egypt’s leading exporters in the industrial minerals sector, and GlassRock Insulation Company.
ASCOM established ASCOM Precious Metals Mining (APM) as a logical progression to consolidate all exploration operations of precious metal mining under one entity. ASCOM Precious Metals Mining (APM) used to have concessions in Ethiopia and in Sudan. However, the one concession in Sudan has been placed under force majeure since 2011 due to security concerns in the region. As for the Ethiopian mining arm APM Ethiopia, which acquired a gold concession in 2008, ASCOM has sold a controlling stake in it to the Australian firm Allied Gold Corp in December 2017.
Industrial Minerals Manufacturing
ASCOM’s first manufacturing plant — ASCOM Carbonate and Chemical Manufacturing (ACCM) — was commissioned in 2009. The plant specializes in the production of calcium carbonate, a material with vast applications in the fields of plastics, paper, paint and chemicals. ASCOM holds a number of concessions for high-quality calcium carbonate in Upper Egypt within close proximity to the plant. ACCM exports its products to Asia, the Arabian Gulf, Africa and South America.
ASCOM subsidiary GlassRock Insulation Company began producing rockwool at its USD 70 million greenfield facility in May 2012 and is targeting both domestic sales and exports to key markets in Europe, North Africa, the Gulf Cooperation Council countries and Turkey. The company — the first of its kind in Egypt — began production of glasswool in November 2012, with total production capacity split at 30,000 metric tons of rockwool and 20,000 metric tons of glasswool per annum.
ASCOM has grown to be the largest specialized company in the quarry management sector in the Middle East and North Africa. Over the past decade, the company has developed unique expertise in the field, particularly within the cement industry. Around 90% of ASCOM’s Egypt Quarrying management’s revenues are generated from quarrying for cement clients. ASCOM has established a quarry management company in Sudan, NABTA corporation
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FAYEZ GRESSASCOM - CEO & Executive Chair
FAYEZ GRESSASCOM - CEO & Executive Chair
Fayez Gress took on the role of Managing Director at ASEC Company for Mining (ASCOM), Qalaa Holdings' platform in the regional mining industry, in 2001. After the company was acquired by Qalaa Holdings (then known as Citadel Capital) in 2004, he became Chairman and Managing Director. Gress has been instrumental in developing ASCOM from a local player that provides services to the cement and building materials sector in Egypt to a group of companies with operations throughout the Middle East and Africa. He has helped introduce new lines of business including gold exploration, an aggregates division and calcium carbonate production. Gress, a geologist by training, began his career with ASEC Group in 1980 as a field geologist.