Egypt to start experimental production of gold in Iqat: Petroleum minister

MENA , Ahram Online , Wednesday 27 Apr 2022

Egypt will start experimental exploration and production of gold in the area of Iqat in the Eastern Desert, Minister of Petroleum and Mineral Resources Tarek El-Molla revealed on Wednesday.

 Tarek El-Molla
Egypt s Minister of Petroleum and Mineral Resources Tarek El-Molla in his meeting with the Australian ambassador in Cairo Glenn Miles on Wednesday (Photo : Ministry of Petroleum and Mineral Resources)

During talks with Australian Ambassador in Cairo Glenn Miles, El-Molla asserted that global fuel price hikes have encouraged international companies to conduct exploration to make new discoveries, according to a statement by the ministry Wednesday.

El-Molla and Miles discussed the current oil and gas exploration in the Red Sea region, where Australian Petroleum Company BHP contributes to the concession areas of Chevron and Shell in the Red Sea. BHP is the first Australian company working in the field of oil and gas in Egypt.

The two sides discussed the current status of petroleum and gas markets in the shadow of ongoing challenges and the need for natural gas as a transitional fuel.

They also discussed energy transition efforts and Egypt's preparations to host the upcoming international climate change summit, in addition to mining activities in Egypt and Australia and efforts exerted to develop mineral resources in Egypt.

At the end of the meeting, Miles invited El-Molla and Egyptian companies to take part in the international conference for mining and resources in Melbourne, Australia, on 17-19 October.

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