Egypt Mining Forum unveils growth plans
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawy, inaugurated the third edition of the Egypt Mining Forum (EMF), attended by notable figures including Jordan’s Minister of Energy, and UAE Ambassador to Egypt.
In his opening remarks, Badawy underscored the substantial potential of the Egyptian mining sector, bolstered by the ongoing economic reform programme. He announced plans to improve the investment climate through the upcoming Egypt Mining Portal, set to launch by the end of the year.
Badawy highlighted that Egypt currently possesses confirmed gold reserves of approximately 7.3 million ounces, having produced around 560,000 ounces of gold and 17.5 million tons of other minerals in the last fiscal year. The government aims to ramp up production to 800,000 ounces of gold and 30 million tons of other minerals by 2030, increasing the mining sector’s contribution to the national output from under 1 per cent to 5 per cent.
The minister pointed out that advancing the mining sector and attracting greater investment will require transforming the Egyptian Mineral Resources Authority (EMRA) into an economic entity. This transformation aims to enhance operational efficiency and decision-making while regularly offering more investment tenders for gold and associated minerals exploration and extraction.
Furthermore, he expressed his commitment to closely monitor and address challenges faced by industry partners and to implement a new government programme designed to bolster the mining sector’s contribution to the economy.
Badawy also stressed the importance of collaborating with the Ministry of Environment to develop a green, environmentally-friendly mining sector. He emphasised the significance of advanced laboratories for sample testing, which can save both time and costs. Additionally, he noted ongoing studies aimed at transforming the Eastern Desert into a regional gold hub through the establishment of a gold refinery and logistics centre.
