Egypt's Petroleum Minister Tarek El Molla inaugurated a factory specialized in preparing and analyzing samples extracted from mines at the Um Rus Mine area in Marsa Alam.
The factory would examine the gold ores and associated minerals.
El Molla stressed that the state’s interest in the development of mining activity has resulted in the attraction of world and national investments in this field.
He added that the vision to develop the mining sector – launched in 2018 – created flexibility that accelerated the companies’ operations and helped them achieve added value and returns for the national economy.
During his field visit to the area, he noted that the reforms carried out by the state seek to prepare an investment-friendly environment.
El Molla urged a quick implementation of the investments and plans in the business development and management in the concession area.
Chairman of Nubian Mining Company Issam Khorani confirmed the company’s commitment to its investments in Egypt, presenting the results of the company during the first phase of exploration as proof.
During this phase, the company spent a total of $4.5 billion and this resulted in facilities, infrastructure, geological data maps, and promising research and exploration points in the concession area.
Nubian Mining is on the right track in accelerating the exploitation of mineral wealth and increasing their return on the national economy and their role in sustainable development plans.
The minister further listened to a briefing by the Director of Research and Exploration at Nubian Mining Company, Attia Makhlouf, who noted that the company has conducted geological and structural mapping of most of the concession area and a surface survey of a number of reservoirs and wells in various locations.
He went on to say that the company is carrying out a 3D survey of the Umm al-Rus underground tunnels using the latest 3D portable scanner technologies.
