Egypt, Nigeria seek to boost cooperation in mining activities


Petroleum Minister Tarek el Molla met Wednesday with Nigerian Minister of State for Mines and Steel Development Uchechukwu Ogah to discuss means of boosting bilateral cooperation.

The meeting took up projects designed for joint action with the aim to best benefit from riches of both countries in light of promising investment opportunities, Molla said in statements.

Amendments to the mining law have sure helped create an investment-friendly climate, the minister said, noting that a recent global gold bidding has been welcomed by mining companies based on the new system.

Delegations from the Egyptian mining sector have taken part in international gatherings with the aim to promote business opportunities in Egypt in this domain, Molla added.

He made it clear that his Ministry is adopting a strategy meant to achieve optimal economic gains from Egypt’s mining riches and achieve value added.
This is done through using mining materials in transformative industries, which bring in big revenues, the minister noted.

The two ministers agreed to hold a meeting of mining officials in both countries to outline an initiative for joint action based on common benefits.

Ogah said Nigeria is currently working on amending its own mining law in order to achieve maximum economic gains from riches.

Egyptian companies had shared their know-how in different fields with African states during Egypt’s presidency of the African Union, Ogah added.

He praised the advanced working system applied in Egyptian companies, voicing desire to benefit from their expertise in the fields of energy, mining and infrastructure.