CAIRO, July 8 (MENA) - Minister of Petroleum and Mineral Resources Karim Badawi said Tuesday transforming the Egyptian Mineral Resources Authority (EMRA) into an economic authority will provide it with mechanisms and capabilities needed for development and enable it conduct essential research to attract investment by showcasing available mining opportunities.

The minister said projects are underway to conduct aerial and seismic surveys to identify Egypt’s mining potential, as part of broader steps to bring about a qualitative leap in Egypt’s mining sector.

In a meeting with members of the Mining Committee of the American Chamber of Commerce in Egypt (AmCham Egypt) Badawi said, the mining sector worldwide has gained significant importance in recent years. He said the Egyptian government and relevant State bodies are supporting efforts to develop the mining sector and attract foreign mining companies to invest in this promising field, aiming to position Egypt prominently on the global mining map.

The minister also said the Ministry of Petroleum and Mineral Resources aims to expand various mining industries to achieve value-added goals and provide substantial returns to the state.

Badawi praised the strategic partnership between the petroleum sector and the AmCham Egypt and the efforts of its various committees to attract American investments to Egypt, emphasizing that this would be the best time to invest in Egypt’s mining sector.

For their part, the delegation from the AmCham Egypt's Mining Committee said the support Egypt’s mining sector is receiving from the state during this period is exceptional. They also praised the development of mining agreements and the transformation of the EMRA into an economic authority, that encourages global companies to enter and invest in the sector.

Members of the delegation pointed to their recent visit to Washington, where they sensed strong interest from the US administration in the recent developments in Egypt’s mining sector. They expressed their intention to encourage American mining companies to invest in Egypt, particularly in the field of rare and critical minerals and to implement strategic projects in this vital sector. (MENA)

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