Egypt has always been rich in metals and minerals, including gold, phosphate, iron ore, and gypsum. But in recent years, the minerals sector has garnered increased attention as part of the country’s efforts to revitalise its economy, which was severely hit by political turmoil and economic hardships over the past decade.
The Egyptian government is currently actively working to advance the mining sector to maximise the benefits derived from its mineral wealth, increase the value addition of these resources, and boost the mining sector’s contribution to the Gross Domestic Product (GDP), currently estimated at around 0.5 percent. broader goals include creation of jobs, generation of new revenue streams, and economic development of the nearby areas, that are known to be undeveloped and underserved.
This push includes expanding the Golden Triangle Economic Zone (GTEZ), a crucial area harbouring a significant portion of Egypt’s mineral resources. GTEZ will not only support mineral extraction activities but also encompass diverse industries, tourism, commercial and agricultural activities and urban development, fostering a comprehensive economic hub.