Minister of Petroleum and Mineral Resources Tarek El Molla has received Australia’s new ambassador to Egypt Axel Wabenhorst in a meeting during which they explored opportunities to enhance cooperation and investments in mining, natural gas, and green energies.
El Molla showcased the latest developments in Egypt’s mining sector in light of the reforms done to attract investors, including legislative and financial reforms. He highlighted that a successful bid round attracted more than ten companies to take part in the Egyptian mining industry.
El Molla highlighted the availability of the needed factors to attract investment on top of which was the developed and extended infrastructure built by the state, including airports, marine ports, roadways close to mines, and the needed energy in addition to the qualified cadres.
For his part, Wabenhorst praised the continuous natural gas discoveries in Egypt during the past years, affirming that Australian companies are actively seeking to find investment opportunities in Egypt.