Eng. Karim Badawi: Supporting National Companies Is a Key Pillar for Maximizing Gold Production and Increasing the Mining Sector's Contribution to the Economy
Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, met with the leadership of AFAQ Mining, an Egyptian company operating in gold exploration in the Eastern Desert, headed by Geo. Amr El-Marsafawy, Chairman of the company. The meeting was also attended by several ministry officials, along with representatives from MRMIA. They discussed the company's operational results and its plans to expand gold exploration and prospecting activities.
During the meeting, the company reviewed the progress of operations within its concession located in West Gabal Elba, in the Southern Eastern Desert. Through these operations, the company has achieved outstanding results in exploration activities, emphasizing the region's rich mining potential and reflecting the viability of investments in the Egyptian mining sector.
The leadership of AFAQ Mining praised the recent reforms witnessed by the mining sector, particularly the transformation of the authority into an economic entity under the name of the "Mineral Resources and Mining Industries Authority", in addition to the amendments approved by the Cabinet to MRMIA's executive regulations. These measures have significantly contributed to developing the work environment, enhancing the sector's competitiveness, and increasing its attractiveness to investments.
The Minister emphasized that the Ministry places great importance on supporting serious national companies operating in the exploration sector, through MRMIA. This support aims to accelerate the pace of their operations and maximize the utilization of mineral resources.
The Minister added that the legislative and regulatory reforms witnessed by the sector aim at aligning the Egyptian mining system with the best global practices, and to provide an attractive investment environment based on transparency and competitiveness, thereby supporting the attraction of further investments and achieving added value for the Egyptian economy.
Furthermore,the Minister praised the results achieved by AFAQ Mining in cooperation with Shalateen Mineral Resource Company, emphasizing that this cooperation embodies a successful model of partnership between MRMIA and mining companies. It also contributes to maximizing the utilization of Egypt's natural resources and increasing the added value of precious metals, particularly gold, in line with the Ministry's strategy to maximize the mining sector's contribution to the Gross Domestic Product (GDP).
Minister of Petroleum and Mineral Resources During the Meeting with AFAQ Mining - 2
