Egypt, Barrick Mining discuss expansion of gold exploration in Eastern Desert

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawy has discussed plans with Barrick Mining, the world’s second-largest gold mining company, to expand gold exploration activities in Egypt’s Eastern Desert in the coming period, the ministry said Wednesday.

The talks took place on the sidelines of the Future Minerals Forum in Riyadh where Badawy met Barrick Gold CEO Mark Hill to review the company’s proposed work programme and investment roadmap in Egypt.

Both sides highlighted the importance of Egypt’s newly approved competitive framework for gold and mineral exploitation contracts, which officials say is designed to improve investment conditions and support increased foreign capital inflows into the mining sector.

Barrick plans to begin exploration in new areas of the Eastern Desert once regulatory and procedural requirements are completed, following geological surveys carried out at several sites across Egypt in 2025 as part of efforts to expand its local investment portfolio.

Badawy said Egypt aims to position itself as a regional hub for global mining companies, adding that the partnership with Barrick represents a key pillar of the government’s mining strategy.

Hill said the company is committed to delivering tangible results within strict timelines and welcomed Egypt’s legislative reforms, which he said would support the expansion of Barrick’s operations in the country.

Attribution: Amwal Al Ghad English