Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with Dr. Anne Aly, Australian Minister of Small Business, International Development and Multicultural Affairs, ways to strengthen Egyptian-Australian cooperation in the mining sector and open new avenues for investments and partnerships between companies in both countries, on the sidelines of the Minister's participation in the Africa Down Under conference in Perth, Australia.
They discussed ways to leverage Australia's distinguished expertise in the mining industry and support the entry of Australian companies into the Egyptian market, particularly in the areas of exploration, mining and ore processing, in addition to cooperation in training and the transfer of expertise and technology.
Eng. Karim Badawi reviewed the developments taking place in Egypt's mining sector and the efforts undertaken recently to bring about a qualitative transformation in the mining investment environment and translate Egypt's geological resources and wealth into investment opportunities and value-added projects.
The Minister pointed out that Egypt has implemented a package of measures to facilitate investors' operations and enhance the sector's competitiveness, including streamlining procedures, reducing non-operating costs, improving access to geological data, implementing a one-stop-shop system, and launching an open bidding system, in addition to developing the sector's institutional framework by transforming the authority into an economic authority for mining and mining industries.
Eng. Karim Badawi emphasized that Egypt aims at building a more competitive and investment-attractive mining model that goes beyond the extraction of ores to maximizing value addition through expanding processing, manufacturing, and mining services activities, thereby enhancing the sector's contribution to the national economy and opening broader opportunities for investors.
They also discussed opportunities to promote Egyptian mining investment opportunities among the Australian business community and leverage the capabilities and expertise of Australian companies, including junior and medium-sized companies, in carrying out exploration activities and developing mining projects.
The Minister emphasized the Ministry of Petroleum and Mineral Resources' commitment to expanding the base of international partnerships in the mining sector and attracting new investments and expertise to Egypt, particularly from Australian companies with advanced expertise across the various stages of the mining industry. He added that the current phase is witnessing intensive efforts to promote Egyptian investment opportunities and establish direct channels with global investors.
For her part, Dr. Anne Aly emphasized the importance of strengthening cooperation with Egypt in the mining sector and supporting engagement between the business communities and companies of the two countries, in a manner that contributes to exploring new opportunities for partnership and investment and exchanging expertise.
At the conclusion of the meeting, both sides agreed to continue coordination and identify priority areas of cooperation, in order to transform available opportunities into actual partnerships and projects, and enhance the presence of Australian investments and expertise in Egypt's mining sector.
