ASEC Co. for Mining
EEGX:ASCM46.60
EGP
-1.44
(-3.00%)
ASEC Co. for Mining
EGX:ASCM
(Egyptian Exchange)
Recent
price
46.60
P/E
ratio
3.69
div
yld
- -
ROIC.AI
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- Business
- ASEC Company for Mining S.A.E. (ASCOM) is an Egypt-based company engaged in the provision of contract mining, quarry management, mineral extraction, and specialized industrial minerals manufacturing services across North Africa and the Middle East. Founded in 1989 and headquartered in Giza, Egypt, the company operates as a mining subsidiary of Qalaa Holdings. ASCOM operates across multiple core business segments, including contract quarrying, industrial mineral processing, thermal insulation manufacturing, and geological exploration. The company provides a comprehensive range of products and services, including total quarry management and contract mining services for the cement, building materials, and infrastructure sectors, comprising site preparation, drilling, blasting, overburden stripping, excavation, crushing, and transportation of limestone, clay, shale, gypsum, dolomite, and silica sand; manufacturing and distribution of high-purity ground calcium carbonate (GCC), micronized calcium carbonate, and surface-treated coated calcium carbonate used as functional fillers in plastics, paper, paints, adhesives, PVC pipes, and rubber applications through its subsidiary ASCOM Carbonate and Chemicals Manufacturing (ACCM); production of rockwool and glasswool thermal and acoustic insulation materials for the residential, industrial, and commercial construction markets through its subsidiary GlassRock Insulation Company; and specialized technical services, including core drilling, geological mapping, topographical surveying, resource estimation, reserve modeling, and mine planning. Geographically, the company maintains primary operations in Egypt and the United Arab Emirates through ASCOM Mining Emirates, and exports processed mineral and insulation products to international markets across the Middle East, Africa, Europe, and Asia. In recent corporate and strategic developments, ASCOM has advanced its balance sheet deleveraging and portfolio rationalization by monetizing exploration assets held under its precious metals subsidiary, ASCOM Precious Metals Mining (APM), including transactions related to the Kurmuk gold project in Ethiopia with Allied Gold Corporation. Furthermore, the company has implemented operational efficiency programs and capacity upgrades across its ACCM calcium carbonate manufacturing facilities to increase high-margin export volumes and mitigate macroeconomic foreign exchange pressures.