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Tuesday, 17 September 2019

Egypt’s Mineral Resources Act gets thumbs up from investors

Egypt’s recently-ratified Mineral Resources Act is drawing praise from investors and economists, who believe it will increase investment in mineral exploration and extraction, boosting the national economy, Al Monitor reports. The law has introduced new incentives for companies to invest in the mineral wealth sector, in the hope of attracting some USD 700 mn in investments by 2030. Some 90% of Egypt’s land is said to have untapped mineral wealth, and the government’s strategic reform to upgrade the mining sector, of which the new law is a part, is seen by investors and legislators as a bold step to up the potential of the mining sector as a source of income.

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