HEAR DIRECTLY FROM MARK CAMPBELL

Egypt’s mining sector has come a long way in recent years, how can the Eastern desert become the next big exploration zone for international mining investors?

The key is to attract exploration companies to come to Egypt. To create terms and conditions that make Egypt attractive for exploration companies invest money in compared to other destinations in the world. To work to attract junior exploration companies who are the backbone of exploration and most likely to make future discoveries. We need to make obtaining exploration licenses simpler and mineral agnostic, as Egypt has a wealth of minerals and these should all be explored for. Three things that could be done right now that would help. The first is to look at reducing the cost of ground rents during the exploration period, as you want money going into the ground to discoveries not in rent. Secondly, get rid of the bid round system and make exploration land available on a “first come-first serve basis” for any mineral as this will dramatically speed up the possibility of discoveries and thirdly, enact customs exemptions for exploration companies.

The Eastern desert has great potential for mineral development, what are the geological exploration challenges to establishing commercial mines and how may they be overcome?

The Eastern Desert is geologically complex and over the last 100 years there has been little serious exploration work carried out, so we lack data on the geology of Egypt. This means that exploration companies have a lot do in understanding the geology of where they work.

The Egyptian government has enacted new legal frameworks for better exploitation terms and conditions, is this a step in the right direction and what more can be done to increase exploration projects in Egypt?

The new framework proposed the exploitation portion of the agreements, is a big step forward as it allows companies to determine what is a commercial deposit based on their commercial requirements, without interference. But we in this country talk about mining, when what we should be focussed on is exploration at this stage. Because without exploration there will be no commercial discoveries and thus no new mines. We need to focus on getting as many new exploration companies as we can working in Egypt.

Egypt hasthe ambition to become a global mining trading hub, with plans to generate $10 billion in exports by 2040. What steps can the government take to create a road map for obtaining this goal and making the mining sector a substantial contributor to the country's economy?

To accomplish this we will need to start right now. We as a country need to formulate a clear policy on the development and management of our non-petroleum mineral wealth. Attract companies to invest in exploration. The Geological Survey of Egypt (EMRA) must do more to promote the geology of Egypt and the country being an attractive exploration destination. The average time globally to go from exploration to mining is 10-15 years (Sukari took 14 years until production) and copper the average is 15.5 years. We have a long way to go yet to new mines.

You are joining us next month in Cairo at the Egypt Mining Forum as a panelist. Can you tell us, what are you most looking forward to discussing during your panel?

I am always excited to discuss the exciting exploration potential of Egypt and its vast mineral wealth. This important well organized Forum provides a great platform to highlight Egypt’s huge potential to be a major exploration destination for a wide variety of minerals, from precious metals to base metals, as well as industrial metals and even gemstones. I am really impressed with the sponsors, speakers and stakeholders at the Forum and how the event has the potential to be an instrumental for engagement in dialogue and discussion on how Egypt can develop and grow its exploration and mining sector.

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