Egypt

Canadian Minister of International Trade: Strong participation of Egypt in the International Mining Conference

Published on : 2020-03-05

At the end of his participation in the International Conference and Exhibition on Mining PDAC in Toronto, Canada, Eng. Tariq Al Mulla, Minister of Petroleum and Mineral Resources, met Mrs. Mary Angie Ambi, Canadian Minister of International Trade, where the meeting dealt with ways to enhance cooperation between the two countries in the field of mining, especially as Canadian companies have a long history in mining, Al-Mulla reviewed the ministry’s plans and work programs being implemented to develop and modernize the mining sector. For its part, the Canadian Minister of International Trade welcomed Egypt’s strong participation in the conference, noting that Egypt has become the focus of attention of many international companies in the mining field.

 Canadian "Forbes Manhattan" promising opportunities to invest in Egyptian mining

 Engineer Tariq Al Mulla also met with the Chairman of the Canadian Forbes Manhattan Group, Stan Bharti, where Stan Bharti confirmed his participation in the international bidding for research and exploration for gold and associated minerals in Egypt, pointing to the travel of a number of geological experts to Egypt to study the various opportunities, pointing out that The Egyptian market has a promising opportunity in the field of mining.

 It is worth noting that Forbes Manhattan Group is a commercial bank and bank specialized in mining projects and owns 14 companies specialized in the areas of gold, copper, iron, energy minerals, phosphates and potassium, and the group has provided nearly $ 10 billion to invest in the exploration of gold and base minerals in thirty different countries During the past 12 years only .. And it has its international branches in New York, London and Moscow.

 "Newmont Gold" Egyptian mining sector has become attractive to the company's investments

 On the other hand, Eng. Tariq Al-Mulla held a meeting session with Vice President of "Newmont Gold" for International Relations, Nicholas Coutts, Vice President of the Company for Strategic Planning and a number of exploration and research leaders in the company that have the largest proven gold reserves in the world and is one of the largest companies owning mines in the world.

 During the talks, a review was made of the developments that took place in the Egyptian mining sector, and the company expressed its desire to enter the upcoming bidding for gold. The areas proposed for bidding were reviewed, as well as its conditions and the new financial system to motivate investors to pump more investments in the Egyptian mining sector.

 Barrick Gold: A promising future for mining activities in Egypt

 On the other hand, Al-Mulla met with Rob Karsinov, Vice President of Barrick Gold for Research and Exploitation, which is the first in the world in gold production and restricted in the major stock exchanges of the world, where the meeting dealt with many issues related to the mining sector, the most important of which is the new gold bidding, where Barrick has expressed interest in the Egyptian market In the mining activities that are expected to witness prosperity during the coming period.

 Franco Nevada: An unprecedented boom in the Egyptian mining sector

 Eng. Tariq Al-Mulla also met with the president of Franco Nevada, where the most important recent developments in the Egyptian mining sector were reviewed. The president of the company pointed out the interest of global investors in Egypt's geological reputation, specifically the Eastern Desert region and the extent of the development in the mining sector as a result of the mining sector modernization and development program Al-Masry, adding that there is an expanded interest in increasing the search for gold.

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