El Molla announced that the ministry is set to launch a series of tenders in the current quarter of the year, encompassing precious and base metals, phosphates, sulfur, and potash
The Ministry of Petroleum and Mineral Resources aims to enhance the mining sector's contribution to the country's GDP, aiming for a target of 5%, explained Minister Tarek El Molla during the inauguration of the Egypt Mining Forum 2023 earlier today.
During his speech, El Molla announced that the ministry is set to launch a series of tenders in the current quarter of the year, encompassing precious and base metals, phosphates, sulfur, and potash. These initiatives demonstrate Egypt's commitment to optimizing the utilization of its mineral resources, driven by political stability and ongoing economic reforms, he added.
The petroleum minister emphasized Egypt's rich mining heritage, which traces back to ancient times. He highlighted the nation's immense potential to emerge as one of the premier mining regions globally, solidifying its presence on the international mining investment map.
The Egypt Mining Forum has established itself as a pivotal event on the global and regional mining calendar, firmly in line with the Ministry of Petroleum and Mineral Resources' clear vision for mineral resource development. Distinguished guests at the inauguration included Bandar Alkhorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, Ahmed Samir, Minister of Trade and Industry, and Yonis Ali Guedi, Minister of Energy and Natural Resources of the Republic of Djibouti, alongside esteemed CEOs of leading local and international mining companies.
Egypt has achieved commendable milestones in aligning its mineral development initiatives with environmentally sustainable practices, exemplifying the nation's commitment to green mining and the goals set forth by COP27.
In 2017, Egypt launched the Special Economic Zone of the Golden Triangle, aimed at fostering the development of mining and value-added projects within the resource-rich area encompassing Qena, Safaga, and Al Qusair. Representing about 75% of the country's mineral wealth, the Golden Triangle boasts abundant reserves of iron, copper, gold, silver, granite, and phosphates.
Prime Minister Mostafa Madbouly and Adel Saeed, the Chairperson of the General Authority for the Golden Triangle Economic Zone (GTEZ), recently met to discuss the progress of the Golden Triangle development project in the Eastern Desert.
