Petroleum Minister Tarek el Molla unveiled preparations for conducting the first strategy to develop the mining sector in Egypt to optimize the country's benefit from mineral wealth.

The step comes as part of the 2030 Egypt Strategy for Sustainable Development, the minister said.

Molla made the remarks during his attendance of the signing of a contract to start the first stage of the strategy project.

The contract was signed by Egypt's Enppi company and Wood Mackenzie company, a global energy, chemicals, renewables, metals and mining research and consultancy group with an international reputation for supplying comprehensive data, written analysis and consultancy advice.

The strategy includes setting up mining industries and developing areas surrounding mining activities, Molla said. It aims at increasing the mining sector's contribution to the Gross Domestic Product and the country's economic and social development plans.

He noted that the current contribution of mining activities to the GDP does not level up to the tremendous mining capabilities the country is abundant with.

Under the contract, Wood Meckenzie will study the mining sector in Egypt and lay out an appropriate development strategy by August. Enppi company will offer needed logistic and technical support for the consultancy group.

MENA