Egypt’s Govt, EMRA hold discussions on mining investment and innovation
The government of Egypt, represented by Minister of Petroleum and Mineral Resources Karim Badawi held talks with the Egyptian Mineral Resources Authority (EMRA) to discuss proactive step toward overhauling Egypt’s mining sector and boosting its economic contribution.
The talks follows Egypt’s target to increasing mining GDP contribution from 1% to 5-6%. The minister stressed simplifying investment procedures, creating competitive frameworks, and developing agreements that appeal to both national and international investors to diversify funding sources.
He underscored the importance of developing value-added industries, enabling Egypt to maximize returns from its mineral resources. Badawi listened to EMRA’s recommendations on improving departmental performances and committed to a series of discussions aimed at optimizing operations. Diversified investments and value-added industries could position Egypt as a regional leader in mineral resource development.
Mining in Egypt
Egypt has a rich history of mining and a wide range of mineral resources, including gold, coal, and tantalite. The country has an estimated 6.7 million ounces of gold in the Eastern Desert, 48 million tons of tantalite, which is the fourth largest deposit in the world and 50 million tons of coal, which is important for energy security.Tantalum is valuable for computers and laboratory equipment.
The country also boasts other minerals such as copper, uranium, zinc, platinum, iron ore, phosphate, kaolin, granite, marble, white sand, and limestone. Egypt’s mining history dates back to predynastic times, with active mining beginning around 3000 BCE.
While mining in Egypt has a long history that predates antiquity, it has been under-explored in more modern times, meaning large mineral deposits remain intact, offering excellent investment potential for affluent discoveries. Currently Egypt’s mining regulations are aligned with a modern, international mining code. However, the Sukari Gold Mine operates independently under the Sukari Concession Agreement
