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22/06/2024
Mining News

Italy and Egypt forge closer ties in mining and raw materials sector

“The Minister of Business and Made in Italy, Adolfo Urso, held discussions in Cairo with Egypt’s Minister of Commerce and Industry, Ahmed Samirin, and Minister of Petroleum and Mineral Resources, Tarek el Molla. Emphasizing the revitalization of bilateral relations, Minister Urso highlighted opportunities in the mining sector and critical raw materials synergy. In alignment with European and Italian strategic autonomy goals, both ministers expressed readiness to establish bilateral agreements, focusing on extraction and on-site processing of critical raw materials in Egypt, aiming for tangible returns in investment and employment. A joint action plan is set to be implemented to yield mutual benefits. Additionally, the two countries will organize a bilateral workshop involving relevant institutions, agencies, and companies in the sector in the near future.

Italy and Egypt are committed to fostering an industrial environment conducive to strategic autonomy in critical raw materials,” stated Urso. “Our country stands ready to share its engineering and entrepreneurial expertise to catalyze synergies for extraction and processing in Egypt, benefiting both nations.” Urso also highlighted Egypt as a pilot country for Italy’s business model enhancement, particularly focusing on small and medium-sized enterprises (SMEs), leveraging Italian specialization. “Italy’s SME-driven production system, along with industrial districts, serves as a valuable model for Egypt’s economy,” Urso added. “We are open to various forms of cooperation to promote production localization in Egypt, particularly in sectors affected by production costs and requiring specialized labor.”

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The sectors of industrial cooperation include renewable energy, with Italy poised to become the leading European producer of new-generation photovoltaic panels; digital technology, including applications of artificial intelligence in production processes; advanced agriculture, water management, and pharmaceuticals.”

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