On 12th Jan.2022, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, delivered Egypt's speech at the 8th Consultative Meeting of Arab Ministers for Mineral Resources, at Riyadh, held on the sidelines on the International Future Minerals Forum hosted by the Kingdom of Saudi Arabia, with the participation of more than 100 countries.
The session was attended by Bandar Al-Khorayef, KSA Minister of Industry and Mineral Resources, Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure and a number of Arab Ministers, as well as Adel Sakr, Director General of the Arab Industrial Development and Mining Organization (AIDMO).
El Molla, in his speech, affirmed that Egypt is implementing an ambitious program for developing the Mining Industry, in light of Egypt's vision 2030, on top of which comes the best exploitation of the natural resources.
El Molla reviewed in his speech some of the key measures taken by the Ministry to develop the Egyptian Mining Sector, on top of the priorities came the mining law to reflect the new legislative amendments and available opportunities, providing transparency and flexibility to face the challenges confronting the required investments. The new agreements system has been changed from production sharing to the royalty, and taxes system, along with facilitating the license system to create an attracting environment for companies, encourage pumping investments, increase added value, focusing on digital transformation and bolstering skills of the Mineral Sector employee's, through specialized training program, in cooperation with major International universities.
El Molla announced that implementation of the first approved gold refinery in Egypt in the Marsa Alam area in the Eastern Desert is underway to maximize the added value of gold resources.
El-Molla pointed out that the vision of developing the Mining Sector aims to increasing its contribution to the GDP, from about half percent currently to 5 % during the next two decades, providing a large number of job opportunities and maximizing mining activities through the issuance of more than two hundred research and exploration licenses annually.
El Molla Calls for Arab Initiative for Clean Energy at the Climate Summit (COP27) in Sharm El Sheikh
Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, asserted the importance of the mining industry in serving its vital goals, in which the modern industry will not be able to achieve its goals of decarbonization without the mineral components. In this framework, he proposed to prepare a joint Arab initiative for clean energy to be presented at the United Nations Climate Change Conference (COP27), which will be hosted in Sharm El-Sheikh this year ensuring the commitment of the Arab Countries in this context.
The meeting anonymously agreed upon launching the project of first Arab digital platform for demands and supplies of industrial and mineral products, as well as preparing a mining guidance system for Arab countries.
Moreover, some significant achievements were also discussed during the meeting, including the establishment of an Arab database for the production of mineral ores, the Arab geological and mining portal, and an Arab institute for building human cadres in the Mining Sector.
Eng. El Molla during his participation in the Future Minerals Forum at Riyadh 2
Eng. El Molla during his participation in the Future Minerals Forum at Riyadh 3
Arab Ministers for Mineral Resources during memorial photo at the 8th Consultative Meeting 1
Arab Ministers for Mineral Resources during memorial photo at the 8th Consultative Meeting 2