Latest news with #MineralResourcesAuthority
Daily News Egypt
22-07-2025
- Business
- Daily News Egypt
Al-Sisi urges accelerated oil, gas discoveries, lower import bill
Egyptian President Abdel Fattah Al-Sisi met on Tuesday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to review recent developments in the petroleum and mining sectors, the presidency announced in a statement. Presidential spokesperson Mohamed El-Shennawy said the minister presented the ministry's current strategy, which focuses on boosting exploration and production, maximising value through refining and petrochemical industries, and launching a new phase in mining to deepen its economic contribution. The meeting reviewed government efforts to secure domestic energy needs, particularly for the electricity sector, alongside updates on exploration activities and newly added reserves. The minister reported significant achievements between July 2024 and June 2025, including a rise in domestic oil and gas output and successful measures to curb the natural decline in gas production. Discussions also addressed steps to reduce outstanding payments to foreign partners and the ministry's ongoing commitment to settle monthly dues, aimed at fostering greater investment and accelerating project timelines. Participants reviewed key infrastructure developments, notably the expansion of floating regasification unit capacity from 1,000 to 2,250 million cubic feet per day—strengthening supply security and emergency preparedness. The meeting also discussed cooperation with Cyprus to diversify gas imports and advance Egypt's vision to become a regional gas trading hub. On the mining front, officials outlined plans to transform the Mineral Resources Authority into a commercially active entity, sign agreements with leading international companies, and establish value-added industries driven by national investment. President Al-Sisi underscored the importance of sustaining an attractive investment environment, bolstering domestic oil and gas production to support national development, reduce the import bill, and ease pressures on citizens. He called for accelerating the connection of new discoveries to production, expanding exploration programmes, and offering additional incentives to spur growth in the petroleum and mineral resources sectors.
Zawya
13-06-2025
- Business
- Zawya
El-Sisi approves launch of Mineral Resources and Mining Industries Authority to replace EMRA
Arab Finance: President Abdel Fattah El-Sisi approved a law on transforming the Egyptian Mineral Resources Authority (EMRA) into the Mineral Resources and Mining Industries Authority, as per an official statement. The new law stipulates that the new entity will replace EMRA as an independent structure, in a move aimed at localizing mining industries, boosting transparency, and attracting investment. This decision comes as part of the state's efforts, along with all its institutions, to achieve a real breakthrough in the mining sector and maximize the added value of mineral resources. Moreover, the amendments include regulating the issuance of operating licenses for rock and ore analysis laboratories, implementing a cashless payment system for collecting fees. This is in addition to imposing fines for operating without a license, and creating an investment-friendly environment through advanced regulatory and financial mechanisms that allow the authority to achieve financial sustainability. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
17-05-2025
- Business
- Egypt Today
PM describes Sukari mine as city-scale project
Sukari mine - file CAIRO - 17 May 2025: Egyptian Prime Minister Mostafa Madbouli described the Sukari gold mine near Marsa Alam as a massive project comparable to a small city investment, with 4,000 jobs tied to the site. During a visit to the site on Saturday, Madbouli said that Egypt continues to secure its full rights under existing agreements, even after AngloGold Ashanti acquired the mine's foreign partner. He added that the mine ranks among the top 25 globally, with expected output over the next eight years projected to surpass the past 15 years. AngloGold, now managing the site, is expanding exploration in nearby areas. Investment in the mine has exceeded $2 billion, with major equipment alone valued at $235 million. The Premier added that Egypt's Mineral Resources Authority will soon shift to economic management to improve gold exploration and maximize returns from the sector. During a separate visit to Fustat Hills Park in Cairo, the Prime Minister said that the 500-acre space is nearly complete and will open within weeks. The project replaced unsafe and neglected land with a large public park that includes green areas, commercial outlets, and public facilities. It is the largest park of its kind in the capital and part of broader urban redevelopment efforts across Greater Cairo.
