The recent implementation of landmark legislation and regulatory reforms in Egypt is expected to result in the country attracting greater investment in infrastructure and human capital development.
That, in turn, will pave the way for the country to tap into its significant deposits of metals and minerals and increase the mining sector’s contribution to gross domestic product (GDP) from 0.6% in early 2021 to a targeted 5% by 2025, notes global research and advisory company Oxford Business Group (OBG).
A new focus report published by OBG explores Egypt’s efforts to carve a niche as a regional energy hub and develop its mining industry by capitalising on its abundant untapped resources.
Harry Van Schaick, the regional editor for OBG, said that with 21 out of the world’s 30 fastest-growing economies prior to the COVID-19 pandemic located in Africa, Egypt was well-placed to act as a key supplier of energy for the continent.
Source: www.miningweekly.com
