Badawi said Egypt has implemented legislative and institutional changes over the past two years to create a more competitive investment environment and turn its geological potential into bankable opportunities.
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%
Madbouly and Al-Khorayef discussed plans to deepen cooperation in mining, particularly in gold exploration, where Saudi companies are already active in Egypt. The minister also expressed gratitude for Egypt's support of Saudi Arabia’s International Mining Conference, which brings together leading global players in the sector.
He highlighted the sector’s current contribution of around 1% to Egypt’s GDP, noting its significant potential to grow to between 5-6% in the medium term.
The companies include Canada's Lotus Gold, the UK-based Nubian Mines, and Saudi Steps Group, in addition to a Russian company.
