Egypt sees strong investor interest in new mining exploration licences

Egypt has received strong preliminary interest from local and international mining companies in newly launched exploration opportunities under its open blocks licensing system, Petroleum and Mineral Resources Minister Karim Badawy said on Thursday.

Badawy said the early response reflected growing investor confidence in Egypt’s mining sector following legislative and institutional reforms aimed at improving competitiveness and attracting investment.

He said the open blocks system offers greater flexibility and transparency by allowing companies to apply for exploration licences throughout the year while streamlining application, evaluation and award procedures in line with international best practices.

The minister called for continued efforts to offer competitive investment opportunities, simplify licensing procedures and expand access to geological data to attract more international mining companies and accelerate exploration activities.

He said the measures would help maximise the value of Egypt’s mineral resources, strengthen the competitiveness of the mining sector and increase its contribution to the national economy.

The Mineral Resources and Mining Industries Authority (MRMIA) launched the open blocks system last month, inviting applications for exploration licences covering gold and associated minerals, phosphate, talc, and kaolin as part of the ministry’s strategy to establish a modern and sustainable mining investment framework.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser