Cairo, 19 July 2023 : Qalaa Holdings, a leader in energy and infrastructure (CCAP.CA on the Egyptian Exchange), and its subsidiary, ASCOM, participated in the 2023 Egypt Mining Forum's second edition, as part of the two companies’ environmental sustainability and mining sector development strategy. The forum served as a key event on the global and regional mining agenda and was held under the auspices of the Ministry of Petroleum and Mineral Resources from 18 to 19 July, 2023, in Cairo.
Cairo, 19 July 2023 : Qalaa Holdings, a leader in energy and infrastructure (CCAP.CA on the Egyptian Exchange), and its subsidiary, ASCOM, participated in the 2023 Egypt Mining Forum's second edition, as part of the two companies’ environmental sustainability and mining sector development strategy. The forum served as a key event on the global and regional mining agenda and was held under the auspices of the Ministry of Petroleum and Mineral Resources from 18 to 19 July, 2023, in Cairo.
Among the distinguished attendees were Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, alongside his African and Arab counterparts, regional and global mining industry leaders, global mining companies, investors, service providers, and suppliers interested in conducting their operations in Egypt and North Africa. The forum predominantly discussed the reform and development of the mining sector, an essential sector that is an area of focus for the government. Egypt has launched an ambitious strategy to enhance its mineral wealth, doubling investments in the mining sector by attracting international companies and developing partnerships with international investors, along with launching infrastructure development initiatives.
Qalaa Holdings and ASCOM participated in two high-level discussion sessions at the forum. Qalaa Holdings Chief Operating Officer Amir Naguib, took part in a panel discussion titled "Mining Connecting Africa - Local Content and Procurement in African Mining." The panel addressed the significance of policies encouraging the use of local goods and services and their role in creating job opportunities and promoting economic growth. It also discussed the obstacles facing local production and procurement in the African mining sector, including limited availability of local goods and services, inadequate infrastructure, and a shortage of local skills and training.
Naguib emphasized the importance of highlighting the added value in mining industries for various ores, beyond gold. He stressed the need for cooperation among responsible officials in mining and mining ores to showcase the added value in these industries and shed light on the available opportunities for investors in this field.
He noted, “We play a significant role in localizing industries, enhancing local production, and investing in several strategic sectors, at the forefront of which are the mining, energy, and infrastructure sectors, as well as its leadership in investment. It also transfers expertise to other African countries. To date, Qalaa Holdings has established more than 80 companies that play a fundamental role in economic growth and job creation and make significant contributions to Egypt’s GDP and the transition to a green economy.”
“In addition to its responsible investment approach, since its establishment Qalaa Holdings has been committed to ensuring that all its investments yield three-dimensional returns: economic, environmental, and social. It also focuses on developing human resources from all segments of society. Moreover, it became the first Egyptian company to sign an international commitment to mitigate the effects of global warming and contribute to practical and efficient solutions for the gradual transition to a carbon-neutral economy. This aligns with the state's strategy to promote sustainability practices, enhance mineral wealth, and develop infrastructure,” added Naguib.
“As a leading company in the field of exploration, extraction, processing, and exporting of mining ores and minerals in Egypt and the region, ASCOM operates several factories in different countries and offers its products to more than 45 countries in Africa, Asia, and Europe. Additionally, ASCOM owns the Glassrock factory, which produces glasswool and rockwool. The factory contributes to providing foreign currency for Egypt by reducing imports and increasing exports to countries in Africa, Europe, and the Gulf,” Naguib concluded.
Ali Gaafar, ASCOM’s Chief Operating Officer, also participated in a panel discussion, titled "Mining Exploration Investment Regulations, Trends, and Outlook." The session discussed several important topics related to the most suitable policies for investors in the mining sector, the various challenges faced by mining projects, and how to secure financing amid the government's efforts to encourage investment and enhance the supply of metallic and non-metallic ores and industrial minerals, despite global economic changes.
Gaafar emphasized, “Qalaa Holdings is keen to effectively contribute to Egypt’s transformation into a regional mining leader, in line with the government’s comprehensive vision. Qalaa has a distinguished record of achievements and efforts, including investments in various sectors such as mining, industry, infrastructure, and a commitment to establish innovative investments.”
“The Group has significantly contributed to maximizing the value of the mining sector in Egypt through mining operations and industrial activities, promoting sustainable economic growth, and creating job opportunities in Egypt and Africa. Qalaa also managed to balance carbon emissions through its subsidiaries operating in different strategic sectors. In this vein, ASCOM has signed a contract with an Arab energy company to establish a 7-megawatt solar power station, representing 16% of its total annual energy needs.”
“There is a constant need for industrial minerals and non-metallic ores to meet the requirements of various industries. While the government has taken steps to support investment in the mining sector, further actions are required. Entities and institutions should pay more attention to industrial minerals and non-metallic ores, provide data to assist investors in obtaining necessary licenses, and offer support to mitigate investment risks and encourage investors to pursue investment opportunities,” concluded Gaafar.
The 2023 Egypt Mining Forum shed light on the Egyptian financing roadmap and how foreign investment and partnerships will be key drivers to unlock value within the mining sector. Discussions covered investment, policies, licensing, exploration, exploitation, and the adoption of technology. The forum also focused on building human capacities and infrastructure in the mining sector, aiming to confirm the industry's commitment to a more sustainable and climate-conscious future. This comes as part of efforts to elevate Egypt's positioning as a leading regional and global source of minerals and metals, with the mining sector becoming a significant contributor to the national income, greatly supporting the national economy and achieving comprehensive development.