Egypt to launch new gold exploration bidding
The government of Egypt has announced plans to launch a new bidding process for gold and associated mineral exploration. Egyptian Ministry of Petroleum, led by Minister Karim Badawi, revealed the plans and said the bidding process will be launched in the first quarter of 2025.
This comes as part of the country’s broader efforts to revitalize its mining sector and attract global investments. The announcement was made during discussions with AngloGold Ashanti officials, following the company’s recent acquisition of Centamin, the former owner of the Sukari gold mine, Egypt’s flagship gold operation.
Mining potential
AngloGold Ashanti reiterated its commitment to enhancing exploration and development at the Sukari gold mine, aiming to maximize its potential and extend its life span. The establishment of a mining school, initiated by Centamin, was discussed. The institution, scheduled to open in September 2025, aims to equip Egyptian youth with specialized mining skills, supporting local talent development and workforce readiness.
A draft agreement for gold exploration was signed between the Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti. This agreement awaits final approvals but represents a significant step towards formalizing the company’s increased role in Egypt’s mining sector.
The Sukari mine has been a cornerstone of Egypt’s gold production and a key driver for foreign investment in its mining industry. With the upcoming bidding round and AngloGold’s renewed commitment, Egypt seeks to position itself as a prominent player in the global gold market, further enhancing the sector’s contribution to the national economy.
