Egypt's mineral revenues rise 131% to $446m on strong gold output, says minister

Arab News

16-07-2025

RIYADH: Egypt's revenues from mineral wealth development jumped 131 percent year on year to nearly $446 million in fiscal year 2024/2025, driven by strong growth in gold and silver production.
Speaking at the Egypt Mining Forum 2025, Minister of Petroleum and Mineral Resources Karim Badawi said, gold and silver output reached 640,000 ounces during the year, a 14 percent increase from the previous period, generating $1.54 billion in sales, up 57 percent annually.
The gains were attributed to higher production volumes and stronger export performance, according to his statement on Facebook.
Egypt's mining sector is undergoing a major transformation under the Vision 2030 agenda, as the government seeks to position the country as a regional hub for mineral exploration while boosting its gross domestic product contribution through sustainable and environmentally responsible practices.
'Egypt is a nation distinguished by its unparalleled strategic location and expansive infrastructure. Our rich legacy of mineral resources includes gold, copper, silver, zinc, platinum, as well as a diverse range of other precious and base metals,' Badawi said.
He added: 'These enormous potentials are backed by the Egyptian government's economic reform program, aimed to achieve economic stability, attract investments, and enhance market attractiveness, thus contributing to strengthening Egypt's position as a distinctive and exceptional destination for international investors and placing it on the global mining investment map, in line with the Sustainable Development Strategy.'
According to the minister, ore and mineral production rose to 26 million tonnes, marking a 39 percent increase from the previous year. Egypt also exported 1.4 million tonnes of ores and mining products in 2024/2025, generating $52.5 million in export revenues.
During the forum, the ministry signed two agreements with major international mining companies to boost exploration efforts.
One licensing contract was signed with Centamin Central, a subsidiary of South African-based AngloGold Ashanti, for the exploration of gold and associated minerals, according to Egypt's State Information Service.
The second agreement, signed with Canada-based mining giant Barrick, aims to pave the way for expanded collaboration and exploration activities in the country.
'This step clearly demonstrates the strong desire of international companies to expand their investments in the Egyptian mining sector, which serves as global proof of major international companies' confidence in Egypt's investment climate, reflecting the success of the state's policy in attracting foreign investments,' Badawi said.