To date, the company’s investments in Egypt have reached $150 million.
Global mining company AngloGold Ashanti, which invests in the Sukari Gold Mine in Egypt’s Eastern Desert, is seeking further gold discoveries in the country.
To date, the company’s investments in Egypt have reached $150 million.
This came during a meeting held by Karim Badawi, Minister of Petroleum and Mineral Resources, with a delegation from AngloGold.
Ashanti During the meeting, the minister outlined the ministry’s strategy to attract more investments into Egypt’s mining sector by fostering a favorable investment environment.
The minister emphasized that the mining sector is a strategic priority for the government, which is working to streamline licensing processes, increase investment returns, and establish a competitive regulatory framework.
Badawi highlighted the signing of a new agreement for gold and associated mineral exploration with AngloGold Ashanti and Barrick Gold.
The initial signing took place at the end of last year, and the legislative procedures for its approval are nearing completion in parliament, paving the way for the final agreement.
This agreement is expected to inject fresh investments into the sector and encourage global companies to accelerate the use of modern technologies for gold exploration and extraction.
The minister also unveiled a new strategy to promote investment opportunities in Egypt’s mining sector, including the launch of a digital platform during the upcoming Egypt Mining Forum in July.
This platform will provide investors with direct access to available opportunities, further enhancing Egypt’s attractiveness as a mining investment destination.
Badawi confirmed that collaborative efforts with various ministries aim to transform the Mineral Resources Authority into an independent economic entity.
The transformation is expected to bolster the mining sector’s contribution to Egypt’s GDP, aiming to reach 5-6% in the coming years.
The minister stressed the importance of maximizing the use of mined raw materials in downstream industries, creating added value for the local economy.
Additionally, Badawi announced the upcoming launch of Egypt’s first specialized mining school in Marsa Alam, in collaboration with Sukari Gold Mine.
The school will train skilled professionals for the mining sector, ensuring the development of a qualified workforce to support long-term growth in the industry.
