The Minister of Petroleum and Mineral Resources, Karim Badawi, emphasized Egypt’s significant potential in the mining sector and its status as an appealing investment hub.
This appeal is attributed to its advantageous geographic location, well-developed infrastructure, and abundant natural resources. Badawi underscored the importance of collaboration and integration as crucial elements for achieving success in the Nubian Shield region.
During the panel discussion, Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources of Jordan; Martin Horgan, CEO of Centamin; Tonno Vahk, CEO of Aton Resources Inc; Mike Silver, Co-founder and director of Lotus Gold Corp.; and Heike Harmgart, Managing Director for Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development (EBRD) were featured as panelists.
Badawi underscored the significant role of global mining companies operating in Egypt and their active contributions. This includes providing advanced technologies, modern techniques, and expertise. The pivotal role of financial institutions in securing the necessary funds for investment in this vital sector, ensuring the success of all involved parties, was also emphasized.
Al-Kharabsheh emphasized the importance of the Nubian Shield, which is shared by Egypt, Jordan, and Saudi Arabia, in fostering collaboration for the development of mining resource utilization.
He highlighted the successful exploitation of these resources in Egypt and Saudi Arabia as an achievement that Jordan can leverage and integrate into its mining strategy.
According to State Information Service Website this is particularly important considering the increasing role of mining in development initiatives, support for energy transition, and industrial growth. Studies suggest that there is a global demand for mineral consumption at a level ten times higher than the current demand.
Harmgart reaffirmed the EBRD’s endorsement of the Egyptian and Jordanian governments’ initiatives and their funding of the development of the mining sector, in line with their dedication to advancing energy transition, sustainable mining, and private sector involvement, as well as transparent disclosure of exploration data.
Horgan stressed the significance of the Nubian Shield as a pivotal mining region, housing unexplored gold reserves and promising opportunities.
He praised Egypt’s effective handling of both local and global challenges during its economic reform process. This underscores Egypt’s appeal as an investment hub, owing to its numerous advantages that incentivize investment in the country, as well as its strategic significance within the region.
Horgan confirmed the potential and viability of solar energy in Egypt to support mining initiatives. In the meantime, Silver conveyed the company’s gratitude for the government’s assistance in realizing its ambitious investment plans, aimed at creating success stories in Egypt.
The company is committed to achieving commercial breakthroughs and enhancing financial project management by optimizing expenditure and reducing costs.
