Minister of Petroleum and Mineral Resources Karim Badawi met with a delegation from AngloGold Ashanti to discuss investment opportunities in Egypt’s mining sector, particularly at the Sukari gold mine.
During discussions with AngloGold Ashanti’s Chief Sustainability and Corporate Affairs Officer, Stewart Bailey, Badawi highlighted a new agreement with AngloGold and Barrick Gold to enhance the extraction of gold and associated minerals. He also outlined plans to expand investment opportunities, including launching a digital mining platform at the upcoming Egyptian Mining Forum in July, enabling investors to access detailed sector opportunities.
The minister emphasized ongoing efforts to transform the Egyptian Mineral Resources Authority (EMRA) into an economic authority to enhance investment flexibility and increase the mining sector’s contribution to GDP to 5-6%.
Additionally, Badawi announced plans to establish Egypt’s first mining school in Marsa Alam, near the Sukari gold mine, to develop skilled professionals for the industry.
Bailey reaffirmed AngloGold Ashanti’s commitment to expanding its exploration activities in Egypt, noting that the company has already invested $150 million in the country’s mining sector.