Egypt's mining sector attracts foreign partners
MARSA ALAM, Egypt, May 15 (MENA) – Prime Minister Mostafa Madbouly on Thursday described the scale of heavy machinery used in mining operations at the Sukari Gold Mine, valued at approximately $235 million, alongside the two billion dollar investment by AngloGold Ashanti (AGA), as key factors in attracting foreign partners to invest in this highly important sector.
Touring the site, he explained that such partners possess both the capacity to fund major operations and the expertise to execute them effectively.
The premier noted that his meeting with AngloGold Ashanti officials earlier in the day yielded important outcomes regarding the start of commercial production at the site.
Company representatives confirmed that Sukari is among the world's top 20 gold mines and is highly valued due to its favorable extraction conditions compared to other sites.
They also revealed that new exploratory operations are underway and that additional reserves have been confirmed.
Madbouli stressed the government's commitment to encouraging the entry of more companies like AngloGold Ashanti to further develop the mining sector.
He praised the scale and quality of work being carried out at the site and highlighted the CEO's commendation of Egyptian workers and their technical skills. This, he said, motivates the government to introduce incentives to empower more Egyptian talent in this vital industry.
The premier thanked all company workers, especially the notable number of women at the site, including the region's first female CEO of a mining and exploration company, who is Egyptian.
The accompanying MPs and senators praised the efforts made at the mine, commending the professionalism of operations at every stage of gold production.
Managing Director and Vice Chair of Sukari Gold Mining Company Hoda Mansour expressed gratitude to the Prime Minister for being the first in office to visit the site. (MENA)
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