Egypt, Saudi Arabia sign MoU for mineral exploration

The MoU was signed on the sidelines of the third International Mining Conference, held in Riyadh between 9 and 11 January, according to a cabinet statement on Tuesday. 

El-Molla highlighted Egypt's strides in fostering a conducive investment climate for mining, given the ongoing legislative and financial reform initiatives. 

He added that his ministry is committed to extracting maximum value from the sector's growth, advancing the comprehensive modernization program, attracting new investments, and driving digital transformation in mining activities.

Aligned with El-Molla's vision, Alkhorayef affirmed the joint commitment to strengthen collaborative mining efforts and facilitate the private sector’s investment in the mining sectors of both countries.

Both ministers have agreed to form a joint team responsible for outlining and implementing the necessary procedures stipulated in the MoU, ensuring its effective activation and implementation.

Over the years, Egypt and Saudi Arabia have maintained warm relations in various fields, including politics, economics, and security.