On the sidelines of the Egypt Mining Forum 2022, the Egyptian Mineral Resources Authority (EMRA) has signed three memoranda of understanding (MoUs) for developing the Egyptian mining sector.
Suez Canal Authority (SCA) Chairman Osama Rabie announced that navigation data in the Suez Canal’s revenues achieved an unprecedented record during the fiscal year (FY) 2022/21 reaching $7 billion which is the highest in its history.
Minister of Petroleum and Mineral Resources Tarek El Molla has invited the international mining companies to invest in the concessions area of Shalateen Mining Company for exploring gold and metals, especially after the Iqat discovery which confirms the existence of gold reserves in these areas.
Minister of Planning and Economic Development Hala El-Said stated that public investments directed to the sector reached EGP 437 billion during the previous eight years from 2014/15 to 2021/22, compared to EGP 152 billion pounds during the preceding eight years from (2006/07 to 2013/14), with a growth rate of 188%.
As part of his participation in the ministerial delegation headed by Prime Minister Mostafa Madbouly in the eighth session of the Egyptian-Algerian Joint Higher Committee, Minister of Petroleum and Mineral Resources Tarek El Molla held a joint session of talks with the Algerian Minister of Energy and Mines Mohamed Arkab in the Algerian capital.
Qalaa Holdings company announced that it has achieved an annual growth in its revenues of 134% after reaching EGP 18.7 billion in Q1 2022 and recurring EBITDA of EGP 3.9 billion compared to EGP 90.5 million in Q1 2021.
In a meeting with Minister of Petroleum and Mineral Resources Tarek El Molla, Yves Jacob, Head of the Private Sector at France's Societe Générale, praised Egypt's development strategy, confirming that Societe Générale is keen to expand its portfolio in the Egyptian petroleum sector and identify the best available opportunities for investments.
Prime Minister Mostafa Madbouly met with Tarek El Molla, Minister of Petroleum and Mineral Resources to review a number of investment opportunities in the refining and petrochemical sectors, in the presence of Saad Helal, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM).
SDX Energy Plc announced that it has started spudding the MSD-23 infill development well located at the Meseda Field in West Gharib concession.
The Chairman and Managing Director of Petrojet Waleed Lotfy has met with the Head of Libya’s National Oil Corporation (NOC) Mustafa Sunallah and the Project and Maintenance Manager of NOC Najmi Kareem to discuss cooperation opportunities in petroleum projects in Libya during the next period.
