On the sidelines of his official visit to Australia, Karim Badawi, Minister of Petroleum and Mineral Resources, met with executives from three Australian firms: Capital Drilling, Hunter, and Bell Potter. The meetings focused on attracting new foreign investments, supporting the expansion of existing operations, and securing crucial financing for exploration projects within Egypt’s mining sector. The discussions are part of the Ministry’s efforts to leverage Egypt’s mineral wealth and bolster the new investment climate.
Badawi discussed Capital Drilling’s plans to expand its existing mining drilling operations in Egypt with Jamie Boyton, Executive Chairman, and Brian Rudd, Executive Director. According to the Ministry’s statement, Capital Drilling is interested in pursuing the exploration and exploitation of Phosphate, offering integrated mining services, and entering the field of Gold exploration in the Southern Eastern Desert.
Both sides agreed to provide immediate facilities to support the company’s expansion, including offering geological data and organizing field visits to accelerate its entry into new mining activities.
During his visit, Badawi also met with Ian Kortlang, Founder and CEO of Hunter, a firm known for its extensive mining experience and regional market presence across the African continent. The meeting explored opportunities for cooperation in the field of Critical and Rare Earth Minerals in Egypt, which are in rising demand for renewable energy projects. Discussions focused on leveraging the company’s expertise in green energy supply chains and establishing mechanisms to link Egyptian projects with global buyers and necessary financing sources.
The Minister’s agenda concluded with a meeting with Steven Kite, Head of Corporate Finance at Bell Potter, a global firm specializing in investment banking and finance. The two parties reviewed mechanisms for supporting and financing mining projects, which the Minister noted are essential for stimulating investment in the sector. They explored opportunities for cooperation in funding exploration projects for emerging and medium-sized mining companies and discussed the latest global trends in mining finance to assist companies with an actual interest in the Egyptian market in securing necessary funding.
