Minister of Petroleum and Mineral Resources Karim Badawi has reviewed the business of some mining companies working in Egypt, including the Lotus Gold Mining Corporation and Capital Drill Company, and explored their plans for the coming period in addition to changing visions about the investment climate.

The minister stressed that the Ministry of Petroleum and Mineral Resources (MoPMR) is keen on creating a positive investment environment in the mining sector supported by the spirit of unity within the teamwork and its interest in overcoming challenges and providing attractive investment opportunities in this sector.

The minister pointed out that the Egyptian mining sector has many factors that qualify it to increase its contribution to the gross domestic product (GDP).

During his meeting with Lotus Gold which included Mike Silver, the CEO of the Company, Walid Gad, CFO of Lotus Gold Egypt, Omar A. Nasser – Lotus Managing director. and Wafaa Sawy – Lotus Gov and Public affairs Manager, the parties discus
sed the progress of the company’s business in the field of gold exploration at the areas of Wadi Zaidoun, Umm Samra, Saqdeed and Umm Salim in the Eastern Desert to reach a commercial discovery.

The Canadian company affirmed the importance of the Eastern Desert region and its belief in its potential and mining resources, praising the government’s support and successful cooperation with the Egyptian Mineral Resources Authority (EMRA) to implement the company’s work programs.

During the meeting with the Capital Drill Company delegation, which included Jamie Boyton, Chairman of the Board of Directors, Brian Rudd, the Executive Director, and Khaled Mortagy, Chairman of the Company in Egypt, the company’s drilling work was reviewed in several gold mining sites in the Eastern Desert, most notably the Sukari Gold Mine.

They also examined the Company’s latest technological contributions in cooperation with EMRA in developing the mining industry represented by the MSA LABS laboratory in Marsa Alam in the Eastern Des
ert to support the needs of the Egyptian mining industry for specialized laboratories for comprehensive examination and testing of gold ore and minerals for rock and soil samples.

Source: State Information Service Egypt