Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi held talks with chairmen and executives from major Australian, Chinese, and South African mining companies to explore attracting new investments into Egypt’s mining sector.
Held on the sidelines of the Africa Down Under (ADU) conference in Australia, the meetings addressed efforts to develop Egypt's mining investment system and the reforms implemented to create a more attractive and competitive investment environment.
Badawi met with Craig Jones, Managing Director and CEO of Perseus Mining, to discuss boosting cooperation in gold mining. They also explored the possibility of including Egyptian opportunities in the company's expansion plans, given its experience and current investments in several African countries.
In his meeting with John Zhang, Manager of Beijing Sales Company at Xinhai Mining, the discussion focused on leveraging the company's expertise in engineering, technology, ore processing, and project development, enabling Egypt's drive to maximize the added value of its mineral resources.
They also touched upon the company’s entry into the Egyptian market through a strategic cooperation and investment agreement with Aton Resources, a Canadian company operating in Egypt in the field of gold exploration and exploitation. This agreement included a CAD 4 million investment in the company's shares.
He also met Kelly Carter, the Executive Vice President and Group Head of Legal and Compliance at Gold Fields, to highlight the promising geological potential of the Arabian-Nubian Shield region and Egypt's long history of gold production, as well as opportunities to explore mineral systems that combine gold and copper.
Finally, he talked with Doug Horak, CEO of Australia-Africa Minerals and Energy Group (AAMEG), to deepen cooperation with the Australian mining community and benefit from the group’s network of more than 100 Australian companies operating in more than 30 African countries in the fields of mining, exploration, engineering services and energy.
