During a symposium held by Al-Ahram institution to discuss the law of mineral wealth before being adopted by Shura Council, Petroleum Minister Osama Kamal confirmed that the mineral wealth in Egypt is one of the hopes of Egypt that has not been well-exploited so far. He said that we have billions of tonnes of mineral wealth, whether they are in mines or quarries, and there are other billions of tonnes in unknown areas.
As for the reasons for not exploiting this wealth, the Minister said that this is because we currently work under the umbrella of the old law which includes some cheap materials.
Second, there are vast areas of quarries that are rented at 5 pounds for the 10,000 square meters annually, he added. He also pointed out that the mineral wealth has not a future vision, and that's why its affiliation shifted between the petroleum and industry ministries.
Third, there was not a long-term strategy for using these materials and wealth, and whether they are to be sold or used as raw materials.