Minister Badawi emphasized the government’s commitment to advancing the mining sector and increasing its contribution to Egypt's GDP from the current 1% to between 5% and 6%
Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, held an extensive meeting with local and international mining investors to discuss investment opportunities and the latest reforms aimed at creating a more attractive environment for investors in the mining sector.
In his address, Minister Badawi emphasized the government’s commitment to advancing the mining sector and increasing its contribution to Egypt's GDP from the current 1% to between 5% and 6%. This goal, he explained, would be achieved through attracting more investments and implementing legislative and operational reforms.
Key among these reforms is the ongoing transformation of the Mineral Resources Authority into an economic entity. This shift, alongside the development of investment models for gold exploitation and the removal of bureaucratic obstacles, aims to align Egypt’s mining framework with global standards.
During the meeting, the minister revealed a new global tender launched by the Egyptian Mineral Resources Authority. The tender invites investors to submit proposals for the exploration of kaolin sand, glass sand, and associated minerals in various regions. The tender will be open from Wednesday, December 18, 2024, until Thursday, February 13, 2025.
Minister Badawi announced plans to launch Egypt’s Digital Mining Platform in early 2025. This platform will promote investment opportunities and streamline industry operations through modern technology. Additionally, efforts are underway to strengthen regional cooperation and share expertise with other countries in mineral resource exploitation.
The meeting was attended by senior government officials, including representatives from Parliament, such as Deputy Speaker Ahmed Saad El-Din, and members of the Industry and Legislative Committees. They praised the ministry’s proactive approach in engaging with private sector investors and addressing challenges in the mining industry.
Deputy Speaker Saad El-Din commended the ministry’s efforts to integrate modern technologies and satellite applications to enhance mining operations. Meanwhile, Mohamed El-Sallab, Chair of the Industry Committee, stressed the importance of amending mining laws to encourage the localization of mining industries. He also advocated for a comprehensive mineral resources map to support future planning.
The minister also underscored the vital role of political leadership and the Prime Minister’s Office in supporting the sector's development. He highlighted ongoing collaborations with various state departments to resolve challenges, enabling a faster pace of reforms.
The minister highlighted significant progress made in cooperation with Parliament, including discussions on legislation and agreements with major international mining companies. Notably, an initial agreement was signed with Canada’s Barrick Gold, the world’s second-largest gold mining company. He also announced a series of upcoming tenders for various mineral investments, reflecting the government's commitment to sector growth.
