Petroleum and Mineral Resources Minister Karim Badawi said Egypt is preparing to launch an integrated digital platform for the mining sector by the end of the first quarter or early in the second quarter of the current year at the latest.
Speaking during a conference organized by the American Chamber of Commerce in Cairo, Badawi said the platform will cover all stages related to mining investment opportunities, starting from expressions of interest, through evaluation and assessment procedures, and ending with the electronic issuance of all licenses.
The platform is part of a broader plan aimed at streamlining procedures and enhancing the attractiveness of Egypt’s mining sector to both local and foreign investors, the minister said.
Badawi added that the petroleum ministry is targeting a qualitative shift in the mining sector to raise its contribution to gross domestic product to between 5% and 6%, up from around 1% currently, while working to transform the Egyptian Mineral Resources Authority into an economic entity.
According to previous statements by the minister, Egypt has promising investment opportunities in minerals including gold, phosphate, quartz, silica, potash, kaolin, and sulfur.
The ministry is also preparing to launch Egypt’s first comprehensive aerial survey for mineral exploration in 40 years during the first quarter of the year, aiming to update geological data and build a comprehensive database to accelerate the attraction of regional and global mining investments.