Egypt explores new gold investment with AngloGold Ashanti

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawy met with Hoda Mansour, Managing Director and Vice Chair of Sukari Gold Mines representing AngloGold Ashanti, during his visit to London leading the Egyptian-British mining business delegation.

The discussions focused on expanding cooperation and attracting additional investment in Egypt following AngloGold Ashanti’s acquisition of two new licences for gold exploration and exploitation in the Eastern Desert, complementing its existing operations and the company’s plans to develop the Sukari mine.

Badawy reaffirmed the ministry’s full support for the company’s efforts to boost gold production at Sukari and accelerate exploration in newly licensed areas under the updated agreement framework, designed to align with globally competitive investment standards. He described the initiative as a stepping stone for attracting broader mining investment into Egypt.

The meeting also covered training and capacity-building programmes for Egyptian geologists and mining engineers, as well as collaboration on occupational health and safety, environmental protection, and adoption of AngloGold Ashanti’s international best practices. The company is considered a strategic partner in Egypt’s mining sector.

Following the company’s acquisition of Centamin in November 2024, AngloGold Ashanti secured the two licences covering more than 2,200 square kilometres in previously untapped areas of the Arabian Nubian Shield, a mineral-rich region with significant gold potential.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser