Egypt Seeks More Investments in Mining Sector

Egypt and two world companies discussed boosting cooperation in the mining domain.

This came in a meeting between Minister of Petroleum and Mineral Resources Tareq el Molla with Jeremy Crozier, President of Principle Verve International and Brian Rudd, CEO of Capital Drilling.

The meeting tackled investment opportunities after the amendments of the new mineral wealth law, especially since the two companies have a long history of nearly 30 years in the field of mineral exploration and mining industry in Europe, North America, Africa and Australia.

Molla reviewed Egypt's geological advantages and its open mines, which can be operated throughout the year due to the existence of an infrastructure that helps and encourages mining work.

The heads of the two companies expressed their willingness to invest in the field of gold exploration in Egypt in light of the political and economic stability and future plans of the Ministry of Petroleum to develop the mining sector in Egypt.

The meeting was attended by Fekry Youssef, Petroleum Undersecretary for Mining and Geological Affairs and Osama Farouk, Chairman of the Mineral Resources Authority.