I wonder what the Minister of Petroleum is doing in London, and what is the relationship of the visit to prospecting for gold in the Eastern Desert, and what is the story of the new gold processing plant, and what is new in the file of extracting the precious metal from the mines.. We will tell you all the details in this video… Stay with us until the end.
In recent hours, Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, held a meeting with officials of the Canadian company Aton Resources during his visit to London. This meeting discussed the latest developments in the company’s work to search and prospect for gold in its concession area in Abu Marwat in the Egyptian Eastern Desert, and the minister praised the positive results achieved by the company.
Recently, the company achieved two commercial discoveries, namely Hamama and West Roadroin, and is also seeking to establish a new factory to process gold extracted from mines in its areas. The Minister of Petroleum confirmed that full support will be provided to the company to accelerate the pace of business in its areas and expand its activities in Egypt.
Hence, the President of Aton Resources, from Thani, stressed his company’s commitment to increasing investment in Egypt, as an important partner, and praised the close cooperation with the Ministry of Petroleum and the Mineral Resources Authority, and the attractiveness of the new mining law in Egypt, and expressed his optimism in achieving more successes in Egypt, This confirms that the Egyptian market is very attractive and can absorb all foreign investments.
At the end of the meeting, a letter of intent was signed between the Ministry of Petroleum and Mineral Resources and Aton Company, with the aim of directing specialists at the Mineral Resources Authority to study amending the commitment agreement issued to the company, in order to allow it to increase its foreign investments within the concession areas.
Of course, all of this increases the return of the Egyptian state, increases investments in the oil sector, and revives the sector as a whole.
Also in London, the Minister of Petroleum held a discussion session with Engineer Khaled Al-Mudaifer, Deputy Minister of Industry and Mineral Resources for Mining Affairs in the Kingdom of Saudi Arabia, and Vice Chairman of the Board of Directors of Ma’aden Company, with the aim of developing the partnership with the Arab Republic of Egypt in the mining sector.
Indeed, the two sides discussed ways to enhance cooperation in this field, and worked to create an attractive investment environment.
This step comes within the plan to support close relations between the Arab Republic of Egypt and the Kingdom of Saudi Arabia, and continuous cooperation to advance development in the mining sector, in order to contribute to maximizing the added value of natural resources and achieve the common interests of the two brotherly countries.
It is clear that the Ministry of Petroleum is following a solid and advanced plan to develop the sector on the one hand, and maximize the benefit from new discoveries on the other hand, and not only that, it is making deals with major international companies to enhance investments in the petroleum fields, and this confirms that the Ministry is working day and night.
Of course, all of this has many positive results, the first of which is enhancing petroleum discoveries, and also attracting investments to work in the energy sector in Egypt as well as discoveries. This has a very positive impact on the Egyptian economy and will be able to bring millions of dollars into the Egyptian treasury, and it will also attract the dollar and all foreign customers. Of course, all of this will translate and reflect positively on living conditions, and the citizen’s life will improve greatly.
