|08 July, 2019

Egypt eyes $700mln new mining investments by 2030 – minister

The ministry’s strategy also includes the creation of 110,000 jobs

Coal Miners Surveying Mine From Above Image used for illustrative purpose.

Coal Miners Surveying Mine From Above Image used for illustrative purpose.

Getty Images/Monty Rakusen

Cairo –  Egypt is planning to drive new investments worth $700 million to the mining sector by 2030, local newspaper Akhbar El-Yom reported, citing the country’s minister of petroleum and mineral resources as saying.

The North African nation also aims to increase the mining sector’s contribution to the country’s gross domestic product (GDP) to $7 billion, Tarek El-Molla added.

The ministry’s strategy also includes the creation of 110,000 jobs and the improvement of the mining sector, he revealed.

There are also plans to work with a house of expertise to help raise the mining sector’s contribution to the country’s GDP higher than the current 0.5%.

Source: Mubasher

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