Egypt receives 403 mining bids from 119 firms under new open-block system: minister

Egypt received 403 bids from 119 companies, including 14 foreign firms, for mining areas covering nearly 45,000 square kilometres during the first three months of a new open-block system, Petroleum and Mineral Resources Minister Karim Badawi said Monday.

The bids cover 118 of 335 areas offered for exploration, targeting gold, phosphate, tin, kaolin, and other minerals, Badawi said at the opening of the Egypt Mining Forum.

The foreign applicants included companies from Australia, Britain, Canada, Saudi Arabia, Türkiye, South Africa, India, and China, he said.

Egypt has launched its open-block mineral exploration bid system on 10 June. The new system is part of a broader government effort to attract local and international investment in mining by simplifying procedures, improving geological data, and offering greater flexibility to investors.

Badawi said the strong response represented a “real launch” for the exploration and development of Egypt’s mineral resources and its share of the Arabian-Nubian Shield.

Egypt has been overhauling its mining framework as it seeks to raise the sector’s contribution to gross domestic product to about 6 per cent, from less than 1 per cent currently.

The government has restructured the Mineral Resources and Mining Industries Authority (MRMIA) as an economic body, introduced a new model for gold exploitation agreements and amended executive regulations to provide greater flexibility for exploration and reduce risks and costs during the early stages of projects.

Egypt is also conducting a nationwide aerial geophysical survey to build a more comprehensive geological database and help investors identify areas with greater exploration potential.

Badawi said Egypt wanted to shift from simply extracting and exporting minerals towards local processing and higher-value industries.

“We are moving from merely extracting ore to maximising its benefit, and from exporting resources in their primary form to expanding value added,” he said.

The government is focusing in particular on phosphate, with projects planned to expand production of phosphoric acid and phosphate fertilisers, alongside efforts to develop minerals needed for energy and future industries.

Badawi said the government’s target was to increase mining investment, the number of operating companies, and value-added activity while creating jobs and boosting exports.