Mining Sector
In his remarks, Minister Badawi reaffirmed the government’s commitment to enhancing the mining industry’s contribution to Egypt’s GDP, with a target increase from the current 1% to between 5% and 6%
Egypt is actively seeking to boost investments in its mining sector, with a specific focus on gold. The country aims to invest one billion dollars in the mining sector by 2030.
El Molla disclosed plans to initiate a series of tenders in the current quarter of the year, focusing on precious and base metals, phosphates, sulfur, and potash
The minister said Egypt has a distinct geological nature and many types of minerals, sources of energy, distinguished mining cadres, and the infrastructure including road and transport networks, airports and seaports overlooking two of the most important maritime trade routes globally.
The meeting aimed at following up on the executive situation of the state's plans and efforts to develop the mineral wealth sector.
Molla added in his statement to the House of Representatives, that the contribution of the mining sector to the GDP is "insignificant", and does not exceed half a percent only, which does not reflect the real capabilities of this sector.
This came on the sidelines of the annual PDAC Convention, the world's premier international event for the minerals and mining industry, held in Toronto, Canada.
Molla conferred with Australian Ambassador in Cairo Glenn Miles on Sunday on cooperation vistas between both countries especially in the field of mining.
