Egypt updates mining agreements, expands Sukari Gold Mine collaboration

Egypt’s Ministry of Petroleum and Mineral Resources has announced the completion of a revised mineral exploitation agreement model, a key milestone in Egypt’s efforts to modernise its mining sector.

The updated agreement aims to enhance the investment climate, providing a robust framework to ensure mutual benefit for all stakeholders. This initiative aligns with the country’s broader strategy to attract international investment and foster sustainable growth in the mining industry.

The announcement was made during the British Egyptian Business Association (BEBA) mission in London, where Egypt’s Petroleum Minister Karim Badawi met with officials from AngloGold Ashanti.

The meeting focused on collaboration opportunities, including the development of the Sukari Mine, one of the largest gold mines globally. AngloGold Ashanti officials praised the ministry’s efforts in finalising the revised exploitation agreement and revealed plans to inject additional investments into the Sukari Mine. These investments will focus on enhanced exploration and development activities aimed at boosting output and operational efficiency.

The meeting also highlighted progress in establishing a mining school in Egypt, an initiative spearheaded by Centamin to equip Egyptian youth with essential skills for the mining sector. The school, slated to begin operations in September 2025, underscores a commitment to nurturing local talent and driving the long-term growth of the industry.

This collaboration marks a significant step in strengthening Egypt’s position as a regional leader in gold mining and resource development.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama