Egyptian cabinet to probe mining law
Egyptian PM Ibrahim Mahlab
Cairo - MENA
The head of the energy chamber at the Federation of Egyptian Industries (FEI) said the cabinet would discuss on Wednesday the new mines and quarries law.
Tamer Abu Bakr said the discussion aims to come up with a law that helps using Egypt's natural resources to achieve the highest possible growth rates.
He added that the international mining industry reached USD 18 billion, noting that Egypt needs to invest, at least, USD 2 billion in order to increase its employment and growth rates.
He pointed out that Egypt also needs to adopt projects that have "high labor density and low-power consumption" to overcome its economic problems.
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