Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Mulla held a meeting yesterday with a delegation from the Eurasian Resources Group (ERG), which specialises in the fields of mining, energy operations, transportation and marketing in 16 countries around the world.
ERG’s officials expressed their interest in Egypt’s mining sector, and the possibility of pumping investments into the Egyptian market, given its promising opportunities.
During the meeting, el-Mulla reviewed the developments and reforms witnessed in the mining sector, and the resulting bidding for the exploitation of mineral resources, which attracted global investments and partnerships.
The minister stated that the group’s participation in the 2nd Egypt Mining Forum (EMF 2023) is a good opportunity to study the Egyptian market well, with specific attention to mining sector reform.
Egypt has promising investment opportunities and incentives for investors in the mining sector.
This is the common message participants in the 2nd Egypt Mining Forum, which was held in Cairo yesterday, agreed on.
The forum brought together main actors in the Egyptian mining sector, along with the heads of the nation’s mining companies.
They referred to the incentives offered by the Egyptian government to investors in this important field.
The forum participants cited Egypt’s modern mining infrastructure and road networks.
They also referred to the amendments introduced to legislation regulating mining activities and the facilities offered mining investors, including with regard to licensing.
The forum participants also cited the presence of trained and skilled mining labour across Egypt.
Martin Horgan, CEO of Australian mining company, Centamin, which operates Egypt’s largest goldmine in the Eastern Desert, cited Egypt’s geological capabilities and expertise.
These capabilities and expertise, he said, qualify the country to achieve impressive results in the mining field.
He added that Egypt also has paved roads, adequate communication,electricity and water networks.
“It also has human capacities that pave the way for a bright future in the mining domain,” Horgan said.
He added that these capacities and capabilities can attract major international mining companies to do business in Egypt.
Horgan described the investment environment in the local mining sector as ‘stimulating’.
Meanwhile, Managing Director of mineral exploration company, AKH Gold, Mark Campbell, said Egypt’s geographic location qualifies it for the attraction of huge investments and brings it to the centre of international interest.
This is particularly true, he said, after the Petroleum Ministry amended the Mineral Resources Law in 2019.
Campbell praised Centamin’s successes in the operation of Sukari goldmine in the Eastern Desert.
He underscored the importance of launching new bids for mineral exploration.
This is a matter, he said, that would encourage investments and achieve economic progress.
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