“Mining”.. New investments between Egypt and Australia

Engineer Tarek El-Molla, Minister of Petroleum and Mineral Resources, received Dr. Axel wabenhorst, the new Australian Ambassador to Cairo

The two sides discussed enhancing areas of joint cooperation, especially in the fields of mining, gas and green energies.

Opportunities investment 

The Minister of Petroleum reviewed the available investment opportunities in the field of mineral wealth in Egypt, and Egypt's growing role as a natural gas exporter.

The mining sector has undergone many reforms

"El-Molla" reviewed the developments witnessed by the mining sector in Egypt in recent years to create an attractive climate for investors.

legislative reforms

Minister of Petroleum referred to the legislative reforms and amending the financial model and other reforms that helped attract new international and Egyptian companies to invest in the search for gold and minerals.

"El-Molla" highlighted the successful international bidding that was launched and attracted more than 10 companies, which are participating in their investments in the Egyptian mining industry.

Mining activities

The minister emphasized the availability of investment attraction elements necessary for the success of mining activities, foremost of which is the advanced and extended infrastructure that the state has expanded to establish over recent years.

In this regard, he referred to the excellent airports, ports and road networks near the mines and the availability of energy sources, in addition to the qualified mining cadres, which are an essential pillar in the success of plans and projects.

petroleum sector

Al-Mulla pointed out that the increasing credibility of the petroleum sector with the international oil companies gives confidence and a positive indication to the international mining companies.

He stressed that the sector respects its contracts with its foreign partners, expressing the existence of great opportunities for exchanging experiences between the two sides in the field of mining.

Gas discoveries in Egypt

For his part, the Australian ambassador praised successively achieving gas discoveries in Egypt in recent years, and achieving self-sufficiency in gas.

He emphasized Egypt's growing role as a natural gas exporter and its success in covering part of Europe's natural gas needs.

He said that it is the only country in the eastern Mediterranean region that owns gas liquefaction and export stations, which enhances its regional position in the natural gas industry.

Cooperate with Egypt

He pointed out his country's aspiration to cooperate with Egypt in the fields of gas, mining and hydrogen, and the endeavor of Australian companies to identify investment opportunities in these fields in Egypt.

Australian ambassador reviewing the participation of the Australian company "BHD" which recently merged with the English company Wood Seed, and the Chevron company in its concession areas in the Mediterranean Sea in Egypt.

El-Molla invited the Australian ambassador to participate in the next edition of the Egypt International Petroleum Conference and Exhibition (EGYPS 2023), which will be held in the middle of next month.