The Eurasian Resources Group (ERG) - which is specialized in mining - said that it seeks to expand in Egypt in the coming period amid ongoing developments and legislations in Egypt that are facilitating foreign firms’ operations in the country.
The Eurasian Resources Group specializes in mining, energy, transportation, and marketing operations in 16 countries worldwide. The Group uses the newest techniques in search and exploitation.
The history of the Eurasian Group goes back to 1994, when shareholders of the Company acquired the first asset in Kazakhstan. Since then, ERG has become one of the world’s leading diversified mining and smelting groups with fully integrated mining, processing, energy production, logistical and marketing operations, according to the website.
On the sidelines of Egypt Mining Forum 2023, the ERG officials expressed during their meeting with Minister of Petroleum and Mineral Resources Tarek El Molla their interest in Egypt’s achievements in mining.
They revealed studies to kick off investments in the Egyptian market, given its promising opportunities.
Jonathan Cordiero, the head of the Development Sector at Eurasian Resources Group, said that he agreed with the minister on exploring further opportunities for cooperation and investment, aiming to benefit from the group's expertise, especially in maximizing the value of mineral resources and developing ongoing projects.
El Molla explained the developments and reforms that the mining sector has witnessed in Egypt, resulting in successful auctions attracting global investments and partnerships.
El Molla emphasized that the group's participation in the Egypt Mining Forum is an excellent opportunity to gain insight into the Egyptian market and explore the tangible reforms undertaken in the mining sector. It will also help identify potential areas for the group's investment, starting from participation in bids and extending to various services within the mining sector.
In parallel, heads and officials of the companies participating in the Forum stressed that Egypt is “on the right track” and has offered new incentives for investment in the mining sector.
During the session of the CEOs of major international companies working in gold mining in Egypt, to unleash the investment potential of the mining sector in the country, within the activities of the Egypt Mining Forum, Martin Horgan, Centamin CEO, said that Egypt has the necessary geological factors and expertise to achieve remarkable results in the mining sector, in addition to the infrastructure and human capacities.
Mark Campbell, Chairman & General Manager of Akh Gold Limited, lauded the unique geographic location of Egypt that permits it to attract more investments especially after the Egyptian minister of petroleum amended the mineral wealth law.
