Egyptian Petroleum Minister Tarek El Molla stressed the importance of achieving optimum efficiency and value added of the processing of the country’s mineral wealth, while also implementing appropriate policies and regulations and attracting investments, reports Egypt Oil & Gas. He explained that in the coming period Egypt would witness an activation of new projects in the mining sector as part of the ministry’s strategy to regulate mineral extraction in Egypt under the new mineral resources law and its executive regulations, which would boost the Egyptian economy.
These statements were in a press release following the minister’s visit to the Egyptian Mineral Resources Authority (EMRA). He was accompanied by the Undersecretary, Fikry Youssef. During the visit, El Molla met with Omar To’eima and other EMRA heads, where he underlined the importance of moving quickly to boost activity and attract investments into the Egyptian mining sector.
The minister also stressed the importance of human capital and training in cooperation with developed countries, through exchange of expertise to keep up with the latest scientific advances in the sector. Further, the minister called for the speedy completion of studies on the exploitation of mineral ores in the Sinai Peninsula and the provision of the information and data required for the establishment of mining industries in those areas, in line with the government’s plan to develop the Sinai Peninsula.
For his part, Omar To’eima presented EMRA’s activities and its role in regulating the sector. He mentioned the 2015/2016 geological survey that the authority had previously conducted, in addition to a series of reviews of raw materials locations – mainly in the Eastern Desert and the Sinai Peninsula – and of the most important ores mined. EMRA has also carried out assessment studies of related industries and re-examined the activities of the varied companies working under the authority.
To’eima pointed out that a comprehensive study was under preparation to identify ways how to restructure the mineral resources authority in order to modernize its tools and help it participate more fully in a mineral renaissance.
Further, To’eima gave an overview of EMRA’s efforts to draw investments into the mining sector by issuing tenders and compiling digital maps as well as technical and economic feasibility studies in line with international benchmarks and scientific standards.
During the visit, the minister inspected the authority’s different departments, EMRA’s historical library, and the activities of its information center.