Egypt, which has been working hard for years to ensure an increase in the contribution of its mining sector to the economy, has gotten a boost, with Australian mining companies showing increased interest in the North African country’s mining sector.
Speaking at the Egypt Economic Development (EED) conference in Sharm ElSheikh, in March 2015, Prime Minister Sherif Ismail, then Petroleum and Resources Minister, had said that the Egyptian government intended to increase the contribution of the mining sector to the GDP from 3.4 percent to 5 percent by 2025. The plan seem to be on course, as the Australian Embassy is supporting the visit to Egypt by two experts from the Western Australian Department of Mines, Industry Regulation and Safety, who will share their expertise with Egyptian officials from the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority.
“Egypt has huge potential in mining, as the dozens of Australians working at the Sukari mine near Marsa Alam can attest,” Australian Ambassador Neil Hawkins said. “We look forward to increasing cooperation between Australian and Egyptian mining officials and companies in 2018.”
“Sukari is one of the top ten gold mines in the world. It shows what can be achieved here in Egypt when Australian and Egyptian miners come together and go for gold,” Ambassador Hawkins said.
To kick-start that cooperation, the Australian Embassy in Cairo, in collaboration with the Western Australian Department of Mines and the Egyptian Mineral Resources Authority, will be coordinating a two-day capacity building workshop on best practices for sustainable mining governance in Cairo from 14- 15 February 2018. The workshop is supported by Australian mining companies Allied Gold Limited and Resolute Mining Limited, both of whom are actively engaged in Egypt, as well as the Egyptian Council for Sustainable Development.
Egypt has strong potential to develop further its mining sector and attract significant international investment. Australia is an international leader in mining with years of experience and many strong, successful mining companies active around the world.