According to Arab Finance, Australian mining companies are keen to invest in Egypt and are monitoring developments in the sector. Minister of Petroleum and Mineral Resources Karim Badawi met with Australian Ambassador to Cairo Axel Wabenhorst to explore ways to strengthen collaboration in the mining sector and review ongoing cooperation in the oil and gas field, as per a statement. Badawi highlighted Egypt's efforts to improve the investment climate. GCC countries set to become steel hubs Egypt is looking to increase FDIs. Egypt and Australia to cooperate on mining operations Image Credits: Top and bottom: Canva News Vale is set to begin constructing "mega hubs" for producing low-carbon iron ore products for the steel industry within the next six to twelve months, the Brazilian mining giant announced earlier this year. Ludmilla Nascimento, Vale's director of energy and decarbonisation, stated that potential sites in Brazil, the US, and the Middle East are currently under consideration for these operations. Three projects of this type were already announced for Oman, Saudi Arabia and the United Arab Emirates. Operations in the Middle East will initially be powered by natural gas. 8 ISSUE 4 2024 | www.technicalreviewmiddleeast.com Vale is also looking at hydrogen for energy.