President Abdel Fattah Al-Sisi called for the upgrading of the mining sector, Bassam Rady, the Presidential Spokesperson stated.
This came during a meeting between the president and several ministers where they discussed the development plan of the mining sector. Al-Sisi stated that a comprehensive strategic vision for the development of the mining sector should be established. He noted that the plan should be utilized to maximize the State’s resources while exploring mineral.
During the meeting, the Minister of Petroleum and Mineral Resources, Tarek El Molla reviewed the results of the Mineral Resources Development Committee, which highlighted the obstacles and suggested plans to create an industry-friendly climate and to keep pace with global practices to increase the mineral resources contribution to the gross domestic product (GDP). El Molla added that through amending legislation, facilitating investment procedures, as well as restructuring the sector, this could be achieved.
For her part, Hala El-Said, the Minister of Planning and Economic Development (MPED) reviewed Egypt’s Vision 2030 for the mining sector’s development plan. She discussed the conversion of mineral ores and utilizing them in manufacturing industries. El-Said denoted that the plan also includes maximizing spending on exploration while reducing mineral ores imports, taking into account the environmental aspect of exploration, extraction, and manufacturing.
The Minister of Local Development, Mahmoud Youssry Shaarawy reviewed the current situation of quarries and salinas, and his ministry’s plans for development regarding exploitation licenses and operation obligations.