The Canada Egypt Business Council CEBC had the pleasure to participate in the PDAC 2014 with a group of veterans in the field of mining, headed by Dr. Muhammad Zaher, Chairman of the Mining Committee in the CEBC and Chairman of Zgold Resources Co. as well as the Chairman of the Egyptian Mining Investors Association UF.

PDAC Toronto is the largest mining conference in the world, enjoying the attendance of a few thousands of exploration and mining companies as well as a significant number of countries, state geological surveys, suppliers, technical contractors and investors. PDAC 2014 was strongly supported by the attendance of H.E. Prime Minister of Canada, The Honorable Stephen Harper.

Since Canada (Toronto) is the mining capital of the world, the delegation hosted an event to which members of the financial markets community were invited along with Egyptian mineral exploration and mining representatives. Further, members of the delegation had the chance to meet with related Canadian ministers and executives to expose the strong bond between the CSR, sustainable development, financial markets and mineral opportunities.

Meetings Held:

• Meeting with the Canadian Minister of Development and Minister for La Francophone

The Egyptian delegation met with H.E. Christian Paradis, the Canadian Minister of Development and Minister for La Francophone on the sidelines of the World Economic Forum WEF – World Economic Forum – on the first day of PDAC 2014. Discussions focused on future plans for the Egyptian Mining Investors Association UF – Exercise of Egyptian youth to technology and research techniques of exploration and mining in cooperation with the Egyptian Chamber of petroleum and mining as well as the interest in efficiency and productivity of vocational training Authority.

• Meeting with the Canadian Minister of International Trade
The Egyptian delegation also met with Ed Fast, Minister of International Trade where they discussed ways of re-implementation of the Canadian experience in the Latin American and West Africa in Egypt, through the transfer of Canadian expertise in planning, legislation and implementation. It is worth noting that countries such as Peru and Chile have evolved steadily and became known as “countries of mining” This was evident in the growth of exports from the mining industry scoring the first rank with participated inputs of mining of nearly 20% of the GDP and it is obvious that West African States are currently going on same path.

For the second year in a row, Dr. Muhammad Zaher also met with the Vice-President of the Republic of Peru-Mr. Marisol Espinoza where they discussed the role of the mining sector as a key to activate the Egyptian agreements with the countries of South America, through the benefit of the Peruvian experience over the past twenty years.

• Meeting with the Director General of the Institute of Mining, Metallurgy and Petroleum

The Egyptian delegation met with Mr. Jean Vavrek, Director General of the Canadian Institute of Mining, Metallurgy and Petroleum, to follow up on previous agreements regarding Egypt’s governance improvement of its natural resources as well as promoting itself as a jurisdiction through expanding Egyptian presence at the global market to draw the world attention to its rich geologic potentials.

The meeting focused on the Development of the overall environment of various exploration and prospection activities as well as the assistance in the formulation of the vision and policy for the mining sector in Egypt. Jean showed interest in visiting Egypt sometime during 2014 as per an extended invitation from the Canada Egypt Business Council and the Egyptian Council for Sustainable Development.

The delegation then met with Mr. Patrick Chevalier, Director of Minerals, Metals and Materials Policy Branch in Natural Resources Canada as well as Mr. Ben Chalmers, Vice President of the Sustainable Development in the Mining Association of Canada.

• Egyptian Night in PDAC 2014

H.E. Wael Aboulmagd, Egyptian Ambassador to Canada, participated in the Egyptian night organized by the Egyptian delegation headed by Dr. Muhammad Zaher Chairman of the Mining Committee of CEBC, and a group of experts in the field.

Ambassador Aboulmagd highlighted the most important political developments occurring in Egypt as well as the features of the coming period from establishing the system of democracy to highlighting the link between the democratic transition Egypt is experiencing now in addition to the economic and social developments. Ambassador Aboulmagd also discussed the importance of recognizing the vital role the mining sector can play in social, economic and political aspects of life.

Aboulmagd also presented some of the actions taken recently by the Egyptian government in terms of the development of the investment environment especially in the field of mining as well as the assistance offered to existing investors to overcome the challenges they face.
Delegation:

Mr. Affifi Ahmad Affifi (Iron Ores, Steel, Hard waste recycling and Coal)
Chairman of Regal Mining – Vice Head of the Delegation.

Dr. Wasfy Amin (Gold and precious metals Refinery)
Chairman of Christian D’oro – Chairman of the Jewellery Group in CCA

Ms. Aida Louiza (Gold and precious metals refinery)
Business Development Manager of Christian D’oro

Mr. George Elarga (Gold and precious metals refinery)
Metal Project Financing – Analysis – CPA Audit

Mr. Zeinhom ElAlfy (Gold exploration and mining )
General Director of Matz Holding

Mr. Hesham El-Shohary (Gold exploration and mining)
Operational Manager of Matz Holding

Mr. Sherif Hassan (Financial Advisor)
Chairman of Tangible Holding

Mr. Saeed Hasaneen (logistics)
Chairman of Cairo Freight Corporation

Mr. Muhammad Zakaria (logistics)
Purchase Manager Cairo Freight Corp.

Mr. Ahmad Abou Elmagd (Quarries – Marble and Granite)
PR Manager Kasb Group

Mr. Sayed ElKosaly (Quarries – Marble and Granite)
Chairman AlAnwar Group

Dr. Mosaad Hashem
Chairman of EMRA (Egyptian Mineral Resources Authority)

Ms. Hanan Elhadary
Chairman of the Industrial Council of Technology Development

Dr. Abdel Aal Attia
Head of Mining Development and Marble Centre in the Industrial Council of Technology Development

Dr. Zaher praised the support of the Egyptian embassy in Ottawa to the Egyptian delegation, providing all forms of support to ensure the success of the mission.

In one of the speeches Mr. Zaher commented “the exploration and mining industry is going through a lot of changes. We need innovation to thrive so that the Egyptian mining industry can prosper and be competitive”.

Asking him about a meeting held with EMRA “I can feel the Government’s strong intention to encourage this sector so as to contribute heavily to the national GDP as well as helping the mining industry to export a reliable accounted percentage of the Egyptian total. I was glad to know the Government’s planning to elevate the value of the mineral production which has become a must as well as the mineral exploration and deposit appraisal expenditures which is now a very crucial matter”.

The responsibility for successful engagement does not rest solely on the government. All key players have a role to play, from entrepreneurs, civil society, business leaders, accountable NGOs and media. The successful business partnerships between the government and those parties require them both to come on table where there is a greater room for exploration of opportunities.

“The word “Resources” is the most important issue of our time and we need to get it right”, commented Zaher, “anybody who refuses to get engaged in a “balanced” dialogue keeps the conversation from advancing to one where everyone can benefit from. We all need to design, promote, develop and publish a public mining development plan and transparency is the most important factor in sustainable economic growth”.

From his remarks, Zaher sees that the richest areas in mineral resources in Egypt host the poorest communities and that there is an urge to transfer this conflict into a better fact.
Exploration and mining bring significant development to the society helping in the infrastructure such as building roads, dams, power plants, agriculture spots, water wells and other important projects. It is a chance and one of the tools to fight poverty and elevate the level of the inhabitants in those areas.

“Mining is far beyond than just a matter of money generating; it is about responsibility as well. Egyptian Prime Minister, H.E. Eng. Mehleb, had highlighted many times the importance of the CSR-Corporate Social Responsibility, especially after January 25 and June 30 revolutions. Mining is all about CSR”, commented Zaher.

Mr. Zaher also highlighted the role of the Egyptian mining investors association who strongly encourages and undertakes this ethical conduct and the way its corporate members interact with the society so as not only to meet but exceed expectations in that aspect.