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Daily News Egypt
17-07-2025
- Business
- Daily News Egypt
Minister of Petroleum discusses mining cooperation with Saudi Arabia
Karem Badawi, Minister of Petroleum and Mineral Resources, held a meeting with Khalid bin Saleh Al-Mudaifer, Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs, and his accompanying delegation, to explore avenues for cooperation between the two countries in the mining sector and to promote sustainable development that serves their shared economic interests. During the meeting, Badawi reviewed recent steps to advance Egypt's mining sector, underlining the Ministry's efforts to create an attractive investment environment built on clear legislation and a competitive climate. He highlighted several strategic projects, foremost among them the phosphoric acid project, which reflects Egypt's commitment to maximising value added from its mineral resources. The Minister also praised Saudi Arabia's organisation of the International Mining Conference, expressing interest in learning from the Kingdom's successful experience in mining sector development. He pointed to the promising potential of southern Egypt, where preparations are underway to conduct seismic surveys to identify new exploration and investment opportunities. For his part, Khalid Al-Mudaifer expressed his pleasure at attending the Egypt Mining Forum, commending the strong turnout and the high level of engagement from industry stakeholders. He emphasised the significant shared potential between Egypt and Saudi Arabia in the mining field, noting that the geographical proximity of the two countries creates opportunities for greater integration and collaboration with international partners. Al-Mudaifer further praised Egypt's serious efforts to develop its mining sector, highlighting the Red Sea region as a promising destination capable of attracting global investment and strengthening bilateral cooperation.
Daily News Egypt
16-07-2025
- Business
- Daily News Egypt
Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum
Karem Badawi, Minister of Petroleum and Mineral Resources, met with Gillian Doran, Chief Financial Officer of the global mining company AngloGold Ashanti—an investor in the Sukari gold mine—alongside Hoda Mansour, Vice President and Managing Director of Sukari Company, on the sidelines of the Egypt Mining Forum. During the meeting, Badawi affirmed the government's commitment to working with strategic partners and fostering an attractive and stable investment climate. He noted that the achievements at the Sukari Mine stand as a successful model of partnership between the state and the private sector. The Minister also reiterated the Ministry's dedication to maintaining open channels of communication to address challenges and streamline procedures, especially following recent amendments to the Mineral Resources Law and the introduction of a new model for gold and mineral exploitation, which together open up fresh opportunities for investors. For her part, Gillian Doran praised the notable progress made at the Sukari Mine, noting that her visit to the site marked a turning point, allowing her to witness first-hand the scale and quality of the operations. She highlighted that 97% of the workforce consists of highly skilled Egyptian professionals. Doran also welcomed the positive outcomes of AngloGold Ashanti's acquisition of the mine, stating that it had strengthened the company's position among global gold producers, with the Sukari Mine playing a central role in this success. The meeting further explored ways to deepen cooperation with the Egyptian government to expedite the granting of exploitation rights, particularly for start-ups, thereby broadening the mining investment base and boosting exploration activities—both within the Sukari concession and in newly awarded exploration areas.
Daily News Egypt
16-07-2025
- Business
- Daily News Egypt
Egypt mining law overhaul to transform mineral authority into economic body
A new amendment to Egypt's mineral resources law will transform the country's mineral authority into an economic entity, a move aimed at boosting investment and increasing the mining sector's contribution to gross domestic product, officials and industry leaders said. Speaking at a panel discussion at the Egypt Mining Forum, lawmakers and a top industry executive highlighted the benefits of the new legislation. The panel was moderated by Dr. Mohamed El-Bagoury, head of legal affairs at the petroleum ministry, and attended by Minister of Petroleum and Mineral Resources, Karim Badawy. Parliamentarian Mohamed Ismail, a sponsor of the bill, said the new law was the result of a legislative evaluation of a 2014 amendment that failed to achieve its desired impact on the mining sector's contribution to GDP. He said that administrative distortions at the Egyptian Mineral Resources Authority (EMRA) were a key challenge, necessitating its transformation into an economic body capable of modernising mining operations, forming economic partnerships, and providing the geological data needed to attract investment. Ismail explained that the new law gives EMRA greater flexibility to set a national strategy for mining industries, allows it to partner with the private sector to reduce investor risk, and enables it to invest in updating geological databases through satellite imagery and modern surveys. He added that a major advantage of the law is the consolidation of authority for granting permits and approvals by including representatives from various government bodies on EMRA's new board of directors. Mohamed El-Sallab, chairman of the parliament's industry committee, said the minister's support for the law was an unprecedented positive gesture. He said the law would allow EMRA to enter into investment partnerships and local manufacturing projects to maximise the economic return from mineral resources instead of exporting them as raw materials. El-Sallab predicted the sector could raise its contribution to GDP to 5%, and possibly even 10%, within three years. Hoda Mansour, managing director of Sukari Gold Mining and a representative of AngloGold Ashanti, said the transformation of EMRA into an economic entity sends a 'real message of confidence' to investors. She noted that AngloGold Ashanti's decision to invest in Egypt for the first time last year came after careful consideration and was driven by the state's positive approach to investment. Mansour praised the minister's engagement with investors and a recent visit by the prime minister to the Sukari mine as signals of genuine political will to develop the sector. Mansour added that the new exploitation contract signed with AngloGold Ashanti is the first of its kind and is based on the latest international laws and standards, which she said opens broad prospects for attracting more investment from major mining companies.
Leaders
16-07-2025
- Business
- Leaders
Industry Vice Minister Emphasizes Regional Cooperation in Mining
At the fourth annual Egypt Mining Forum, held in Cairo on July 15–16, Eng. Khalid bin Saleh Al-Mudaifer, Vice Minister of Industry and Mineral Resources for Mining Affairs, highlighted the critical need to strengthen regional cooperation in the mining and minerals sector. Speaking during a panel titled 'Attracting Strategic Partners and Junior Exploration Companies to Drive Sustainable Growth in the Mining Sector,' Al-Mudaifer applauded Egypt's integration of mining with downstream industries. He emphasized the untapped opportunities in East Africa and West Asia, describing the region as one of the least explored but most promising globally. 'With the right vision and integration between mining and industry — as demonstrated by the Kingdom's experience — this region can deliver transformative development,' he said. Saudi Arabia's Mining Success Al-Mudaifer shared Saudi Arabia's progress in developing its mining industry. Since 2019, the number of exploration companies in the Kingdom has grown from six to over 132, with 60% being startups. He highlighted the role of foreign investors and joint ventures, which now make up 70% of these companies, attributing this success to comprehensive regulatory reforms. The Vice Minister noted the involvement of Egyptian service companies in Saudi Arabia and called for expanded cross-border cooperation. This includes strengthening supply chains, empowering SMEs, and increasing the sector's impact on job creation and economic development. Al-Mudaifer urged stakeholders to invest in integrated regional mining ecosystems that support collective success. He stressed the role of platforms like the Egypt Mining Forum and the Future Minerals Forum in aligning efforts across governments, investors, innovators, and service providers. In his closing remarks, Al-Mudaifer announced that the fifth annual Future Minerals Forum will be held in Riyadh from January 13 to 15, 2026. He extended an invitation to continue strategic discussions, build partnerships, and realize the mineral potential of resource-rich regions including Africa, Central Asia, and West Asia. Cooperation Opportunities On the sidelines of the forum, Al-Mudaifer held bilateral meetings with ministers, CEOs, and investors. Discussions centered on attracting investment, enhancing capabilities, and developing sustainable mining ecosystems both in Saudi Arabia and the broader region. The Egypt Mining Forum brought together global mining leaders, investors, and government officials, reinforcing its role as a vital platform for dialogue and cooperation in the international mining sector. Related Topics: Mining in Mauritania: A Leading Sector with Promising Horizons Saudi Arabia Showcases Mining Exploration Opportunities to Leading UK Firms Ministry of Industry Launches Women in Mining Non-Profit Organization Short link : Post Views: 18
Arab News
16-07-2025
- Business
- Arab News
Egypt's mineral revenues rise 131% to $446m on strong gold output, says minister
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.
