Government pushes mining sector reforms to attract global investment: Egypt's minister
The transformation, he said, will also facilitate key geological and seismic studies to attract investment by highlighting the country's mining potential.
He noted that several ongoing projects are currently focused on conducting aerial and seismic surveys to map mineral resources across Egypt. These efforts form part of a broader national strategy to drive a qualitative shift in the mining sector.
Badawi made these remarks during a meeting with members of the American Chamber of Commerce's Mining Committee in Egypt. The meeting was attended by Deputy Minister Moataz Atef, representatives from the Ministry's technical office, and the official spokesperson.
The AmCham delegation included Hoda Mansour, Vice President of AngloGold Ashanti; Sherif Barakat, Co-Chair of the Mining Committee and General Manager of Aton Mining; Mostafa El Gebaly, Co-Chair of the Committee and Managing Director of Abu Zaabal Fertilizers and Chemicals; Silvia Menassa, CEO of AmCham Egypt; Dina Nawar, Chief Operating Officer at AmCham; Heba Raslan, Partner at Sharkawy & Sarhan Law Firm; Omar Shawky, Managing Partner at Forvis Mazars Mostafa Shawki; and Nouran El Gohary, Committee Coordinator at AmCham.
The Minister emphasised the growing global importance of the mining industry and reaffirmed the Egyptian government's commitment to developing this promising sector. He stressed the country's aim to attract leading international mining firms and position Egypt as a key player in the global mining landscape. The Ministry, he added, is working to expand mining activities and maximise value-added outputs to deliver stronger economic returns to the state.
Badawi also praised the longstanding strategic partnership between Egypt's petroleum sector and the American Chamber of Commerce, commending the Chamber's role in encouraging US investment in Egypt. He asserted that this is the ideal time for foreign companies to invest in the country's mining sector.
For their part, the AmCham delegation welcomed the government's continued support for mining sector development, particularly the reform of mining agreements and EMRA's restructuring. These steps, they said, are enhancing investor confidence and making Egypt more attractive to global mining companies.
The delegation also referenced their recent visit to Washington, D.C., where they observed considerable interest from the US administration in Egypt's mining reforms. They noted a growing push to encourage American companies to explore opportunities in Egypt, especially in critical and rare earth minerals and strategic mining projects.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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