CAIRO – 19 April 2021: Petroleum Minister Tareq el Molla met Monday with newly appointed Canadian Ambassador here Louis Dumas to discuss measures to upgrade the mining system in Egypt.
The meeting took up activities of Canadian petroleum, mining and petrochemical companies operating in Egypt.
Molla, in a statement, said two international bids to explore for gold and minerals had been put up for grabs, noting that the turnout for gold exploration was particularly unprecedented.
Legislative reforms were first made to help develop the mining sector in Egypt, the minister made it clear.
Work is underway to introduce structural reforms and outline strategies to deal with exploration systems, he said.
The petroleum sector, Molla added, is looking forward to benefiting from technical expertise of Canadian institutions and firms in this regard.
For his part, Dumas praised Egypt's success stories in the fields of petroleum, gas and mining.
Egypt has always been and will always be a pivotal country in the Middle East and Africa, the diplomat said.
He told Molla many Canadian companies are interested in expanding investments in the Egyptian mining sector.
Some Canadian firms did win bids to explore for gold in Egypt in light of an improved business climate in the Arab country, Dumas noted.
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