Egypt eyes 5-6% mining sector contribution to GDP

Egypt’s Ministry of Petroleum and Mineral Resources said on Wednesday it had set an ambitious goal of increasing the mining sector’s contribution to the national economy to between 5 and 6 percent in the medium term.

This significant increase from the current level of less than 1 percent will be achieved through a series of strategic initiatives aimed at attracting investment, enhancing mining operations, and fostering a favourable business environment.

During a recent meeting with Marcelo Pereira da Silva, Senior Vice President for Latin America at AngloGold Ashanti, Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi discussed the potential of Egypt’s mining sector to attract foreign investment.

Pereira emphasised the critical role of the Sukari Gold Mine, recognising it as a major project with substantial opportunities for further development and expansion. He also highlighted the fruitful partnership between AngloGold Ashanti and the Egyptian Mineral Resources Authority (EMRA), underscoring the company’s commitment to long-term projects in the region.

Additionally, Pereira stressed the importance of environmental sustainability in mining operations, a key priority aligned with AngloGold Ashanti’s operational values. With these strategic initiatives in place, Egypt’s mining sector is well-positioned to significantly boost its contribution to the national economy in the years ahead.

Attribution: Ministry of Petroleum and Mineral Resources

Subediting: Y.Yasser