According to a press release, Tarek El Molla, the Minister of Petroleum and Mineral Resources, asserted during a recent advisory committee meeting, formed to amend the mineral resources law, that the ministry aims to boost the value added by the mining ores, as well as encourage investors to establish industries with a high added value of mining ores instead of exporting them, which will improve the state’s income and will provide intermediate and final products for the local market.

The ministry is currently working on several tracks to develop the practice of mining activity in line with the ongoing legislative reforms in order to enhance the mining sector’s contribution in the Gross Domestic Product (GDP), which corresponds to Egypt’s mining potential, El Molla added.

It is noteworthy that the Ministry is collaborating with an international consultant to update its financial systems, as well as the investment models, in line with the best global systems in the field, which will achieve a balance between the state and the investor, El Molla stated.