Australia’s Fortescue mulls investment opportunities in mining in Egypt

Egyptian Minister of Petroleum and Mineral Resources Tarek al-Mulla on Friday received a delegation from the Australian company Fortescue which included Chief Executive Officer Julie Shuttleworth,  the company’s president for the Middle East and North Africa, Moataz Kandil, and the company’s regional director in Egypt, Mohamed Shoukry.

During the meeting, the Australian company’s delegation expressed its interest in investing in Egypt in the fields of mining and producing green hydrogen as a clean energy.

The delegation expressed the company’s special interest in investing in mineral ores needed for clean energy projects, especially high-quality silica ore for the manufacture of solar panels, iron ores, copper and rare earth elements.

Mulla brought up the ministry’s strategy to encourage and increase investment in the field of mining, especially basic minerals for clean energy projects, and to expand partnership with major international companies that represent an addition to the Egyptian mining sector.

During the meeting, it was agreed to send the company’s experts to Egypt to learn about the opportunities and capabilities in the mining sector to provide and diversify sustainable energy sources, especially in light of the company’s experience in the field of green hydrogen.

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