The meeting was attended by Geologist Yasser Ramadan,
Chairman of the Egyptian Mineral Resources and Mining Industries Authority.
Minister Badawi conducted an open dialogue with company officials, emphasizing
Egypt’s commitment to reducing investment risks for emerging and mid-sized
mining companies. He highlighted that Egypt offers the essential elements for
success, including a mineral-rich geology, strong infrastructure, and diverse
energy resources. He added that efforts are underway to rapidly create an
attractive investment environment.
The minister explained that Egypt is swiftly implementing
comprehensive reforms aimed at attracting and facilitating mining investment
while enhancing competitiveness. These include the development of updated
mining legislation, transforming the Mineral Resources Authority and the Mining
Industries Authority into economic entities, adopting more attractive
contractual models for investors, providing incentive measures, and
streamlining procedures for companies seeking to invest. He stressed that
ongoing dialogue with investors and consideration of their feedback has been
instrumental in shaping practical measures that align with global investment
standards.
Badawi also praised the visit of the Australian investor
delegation to Cairo earlier this month and the rapid steps taken to strengthen
investment cooperation with Australia. He affirmed that Egypt is keen to
attract Australian investment flows in the mining sector and is working to
establish a favorable environment and investment-friendly regulations.
Australian company directors expressed positive impressions
of the seriousness and tangible steps observed on the ground to attract foreign
investment and enhance the business environment in Egypt’s mining sector. They
noted that their participation in the Perth Mining Conference last September,
followed by their subsequent visit to Egypt, demonstrated clear progress in
reducing investment risks and implementing key reforms. This experience
reinforced their confidence in Egypt’s mining opportunities, which are rich in
gold and a variety of other mineral resources.