Egypt's Minister of Petroleum and Mineral Resources Karim Badawy met with members of the American Chamber of Commerce in Egypt (AmCham) on Tuesday to discuss the country's ongoing mining sector reforms and plans for attracting greater foreign investment. During the meeting, Minister Badawy outlined key initiatives aimed at transforming the Egyptian Mineral Resources Authority (EMRA) into an economic powerhouse, noting that the shift would equip EMRA with the necessary tools to promote development, conduct vital research, and boost investment opportunities in Egypt's mineral-rich sectors. "The transformation of EMRA will allow us to modernise the mining sector and create a more efficient framework for investment," said Minister Badawy. "It will also provide the foundation for essential research and make it easier for international players to engage with the sector." As part of Egypt's broader mining reform efforts, the minister revealed that aerial and seismic surveys are underway to better assess the country's mineral potential. These initiatives aim to unlock new opportunities for sustainable development and improve Egypt's position as a key player in global mineral markets. The AmCham delegation expressed strong support for the reforms and commended Egypt's efforts to modernize mining agreements, which they believe are paving the way for increased foreign investments. "The Egyptian government's commitment to supporting the mining sector is evident in the ongoing reforms and the transformation of EMRA," the delegation stated according to the petroleum ministry statement. They also highlighted the growing interest from US companies in Egypt's mining opportunities, particularly in the exploration of critical and rare minerals. This sentiment was echoed by the delegation's recent visit to Washington, D.C., where they noted the US administration's enthusiasm for Egypt's mining reforms and its willingness to encourage American firms to invest in the sector. Minister Badawy concluded by stressing that these reforms were integral to Egypt's long-term economic strategy, which includes harnessing its mineral wealth for sustainable growth while fostering international cooperation. Attribution: Amwal Al Ghad English Subediting: Y.Yasser Ask ChatGP
