Arab Finance: Velox Energy Materials intends to apply for mining concessions in Egypt, particularly within open areas of the Arabian-Nubian Shield, as the company explores opportunities to enter the country’s mining sector, as per a statement.

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi met with Velox Interim CEO and President Nicole Morcombe in New Alamein to discuss the company’s potential entry into the Egyptian market and prospective investments in mineral exploration.

Morcombe outlined Velox’s experience and its network of mining investors and entrepreneurs, particularly in Australia and Canada. She said the company is eager to begin operating in Egypt, adding that its geological team had identified promising prospects within the available areas.

Badawi said the ministry is working to improve the investment climate for mining companies by developing the mechanisms used to offer exploration areas, making information available to investors, and clearly outlining the requirements governing operations.

Available mining areas undergo evaluation and technical studies through transparent procedures intended to maximize the economic value generated from Egypt’s mineral resources, according to the minister.

The ministry is also coordinating with relevant authorities to address challenges facing serious investors and provide a more stable operating environment. Badawi said trust and transparency remain central to efforts to attract private capital and increase mining’s contribution to the national economy.