AngloGold Ashanti to expand mining exploration in Egypt

AngloGold Ashanti is set to expand its exploration activities for new gold discoveries in Egypt. The leading global mining company revealed the plans during a meeting held between them and the country’s government.

The meeting focused on Egypt’s strategy to attract more investment in the mining industry by creating a business-friendly environment and improving regulatory processes. The expansion of AngloGold Ashanti’s activities in Egypt, combined with the government’s pro-investment reforms, signals a promising future for Egypt’s mining sector. These efforts are expected to position Egypt as a key player in global gold production and attract more international investment in the coming years. The firm has already invested $150 million in Egypt’s mining sector, reflecting its confidence in the country’s resource potential.

Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, emphasized that the mining sector remains a strategic priority for the Egyptian government. He highlighted ongoing efforts to simplify licensing procedures, enhance investment returns, and establish a competitive regulatory framework. These measures aim to attract more international investors and accelerate the growth of the mining industry. Badawi also discussed a recently signed agreement with AngloGold Ashanti and Barrick Gold for gold and mineral exploration. The agreement, which was signed at the end of last year, is now close to receiving final legislative approval in parliament. Once finalized, it is expected to bring in new investments and facilitate the adoption of modern mining technologies.

Goal

To further promote investment opportunities, the Egyptian government plans to launch a digital platform at the upcoming Egypt Mining Forum in July. This platform will provide direct access to investment opportunities, making it easier for global mining companies to explore business prospects in Egypt. Additionally, the government plans to transform the Mineral Resources Authority into an independent economic entity. This move is intended to grant the authority greater flexibility in working with investors, thereby improving sector governance and efficiency. The government aims to increase the mining sector’s contribution to Egypt’s GDP to 5-6% in the near future through these reforms.

Badawi also stressed the importance of maximizing the value of mined resources by promoting value-added industries. He highlighted the potential for using mined raw materials in downstream sectors such as petrochemicals and advanced technologies. This strategy is expected to create additional economic benefits and strengthen regional cooperation, particularly within Africa. Furthermore, the government is committed to developing skilled labor to support the mining sector’s long-term growth. In partnership with Sukari Gold Mine, Egypt will establish its first specialized mining school in Marsa Alam. This school will train professionals for the mining industry, ensuring a sustainable and skilled workforce to meet future industry demands.