Egypt's aims to boost mining sector contribution to 5-6% of GDP

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, reaffirmed the government’s commitment to developing the country’s mining sector during a recent meeting with a delegation from AngloGold Ashanti and Centamin. The discussion followed AngloGold Ashanti’s recent acquisition of Centamin, the former investor in Egypt’s Sukari Gold Mine, positioning the company as a key partner in one of Egypt’s largest mining projects.

 

The minister emphasized Egypt’s goal to transform its mining sector, noting its current contribution of approximately 1 percent to the national GDP. He outlined the government’s ambitious plans to increase this figure to between 5 and 6 percent in the medium term. This growth, he explained, would be driven by efforts to create an attractive investment environment and capitalize on substantial opportunities within the mining industry.

 

In support of this vision, Badawi highlighted ongoing initiatives to foster greater collaboration between stakeholders, promote industrial activities related to mining, and implement policies that prioritize sustainability. He stressed that these measures are key to unlocking the full potential of Egypt’s mining sector and driving its economic growth.

 

The meeting also saw remarks from AngloGold Ashanti’s Marcelo Pereira da Silva, who expressed enthusiasm for the long-term potential of Egypt’s mining industry, particularly the Sukari Gold Mine. He reiterated the company’s commitment to sustainable practices and building on the successful legacy of Centamin’s partnership with Egypt’s Mineral Resources Authority.

 

Centamin’s CEO, Martin Horgan, also praised Egypt’s promising mining prospects, affirming that the country is on the cusp of a transformative period in its mining industry as new opportunities continue to emerge.