Egyptian Oil Minister: We will award a gold mining town

This was confirmed by the Egyptian oil minister, Tarek El Molla International Mining Conference In Riyadh today, Wednesday, his country’s strategy is to develop mining towns, one of which will be destined for gold.

El-Molla explained that the contribution of the mining sector to the Egyptian economy does not exceed 0.5% and are in work is underway to increase it according to economic plans and reforms.

The conference was launched with a speech by the Saudi Minister of Industry and Mineral Resources, Bandar Al-Khorayef, in which he stressed that the Kingdom is working to make the mining sector a third pillar for domestic industries, stressing the importance of holding the conference by mobilizing efforts and putting in note the ambitions and aspirations of joint cooperation between the countries of the region in this vital and important sector.

Al-Khorayef revealed important steps in the development of the mining sector at the Kingdom level, including the licensing of more than 1967 licenses for reconnaissance and surveying. He explained that 25% of these licenses granted were granted in 2021, noting that the number of reserved complexes and mining reserve areas in the Kingdom amounted to 431 sites.

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