Egyptian Ministry of Petroleum and Mineral Resources Invites Consultation with AAMEG and Members in Drive for Foreign Mining Investment

Egypt’s ambitious goal to grow mining’s Growth Domestic Product (GDP) contribution to 6% before 2030 has been underscored by consultative efforts to alleviate barriers to exploration and mining investment in-country, from international players.

Recognising the Australia-Africa Minerals and Energy Group (AAMEG) as a peak body representing Australian companies engaged in the development of Africa’s resource industry, H.E. Karim Badawi, Minister of Petroleum & Mineral Resources, requested the attendance of mining and exploration professionals – facilitated and led by AAMEG CEO Doug Horak and Director Sherif Andrawes – to Egypt for the purpose of gathering qualified input on the Country’s existing international exploration investment regulations and incentives.

Prior to consultation with AAMEG and its delegation, the Egyptian Ministry had already commenced the development of reforms and refreshed investment pathways, including an overhaul of its national authoritative structures in mining, the introduction of new exploitation agreements, as well as digital tools for improved asset licencing and geological data availability.

To provide objective and granular input on the initiatives of the Egyptian Ministry to date, the AAMEG-led delegation collectively partook in numerous meetings and engagements over a period of 5 days at the end of October: resulting in a suite of recommendations for consideration.

Speaking of AAMEG’s role in shaping international investment strategy, CEO Doug Horak commented, “The Egyptian Ministry of Petroleum and Minerals Resources’ proactive engagement of the AAMEG began with a face-to-face meeting, made possible by the Minister’s attendance at the premier Paydirt Media Africa Down Under Conference.”

“This initial conversation was the conduit for the commencement of a credible and mutually beneficial engagement that has the potential to influence government-level decision making.”

“The recognition that AAMEG can have significant and lasting contributions in a means that leverages its members’ key strengths and expertise demonstrates how invaluable this network is.”

“I’d like to extend my sincere thanks to the following delegation for their contributions during the consultation process in Egypt: Sherif Andrawes (Aus), Howard Golden – Director Marvel Gold (Aus), Tim Livesy – Mining Exec (UK), Jaco van Graan – Mining Engineer – SRK (South Africa), Colin Rawbone – GM Principal Exploration Geo (UK) and Brent Irvin – Perseus.”

Egyptian Ministry to Announce Reforms to Australian Mining Investment Professionals

Landing in Australia on the evening of 26 November, His Excellency Karim Badawi, Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt and key members of the Egyptian Ministry will see out an official agenda, first connecting with State Government representatives in mining or related roles, as well as meeting with Executives of numerous Tier 1 Mining including Rio Tinto and BHP.

The final morning of the Ministry’s agenda is set to take place on Thursday, 28 November at the Duxton Hotel, where key investment identities, media and AAMEG membership have been invited to hear a keynote presentation from H.E. Karim Badwi. It is expected that a formal announcement will be made in relation to any emerging changes to Egypt’s Exploration and Exploitation regulations and incentives.