Egypt to launch online platform for mining

Egypt has announced plans to launch a digital platform to serve as a primary catalyst for mining investment.

This announcement was made during the third round of the Egypt Mining Forum (EMF), which kicked off in Egypt and is set to continue for two days. Attendees include Jordanian Minister of Energy and Mineral Resources Saleh Ali Al-Kharabsheh and the Emirati Ambassador to Egypt Mariam Al-Kaabi.

The platform dubbed ‘Egypt’s Mining Portal’ is set to facilitate easy access to data. According to Minister of Petroleum and Mineral Resources Karim Badawi, the digital platform will create an attractive environment for investors in the mining sector. He highlighted the need to transform the Egyptian Mineral Resources Authority into an economic entity as a crucial step in overcoming challenges to attract new investors.

‘Egypt’s Mining Portal’

Egypt is rich in mineral resources, boasting a wide variety of minerals such as gold, silver, zinc, and platinum. The country’s gold reserves are approximately 7.3 million ounces, with 2023 production figures showing 560,000 ounces of gold and 17.5 million tons of other metals. These numbers are projected to increase to 800,000 ounces of gold and 30 million tons of other metals by 2030. Additionally, the ministry aims to boost the mining sector’s contribution to the gross domestic product (GDP) from the current less-than-one percent to five percent.

Martin Hogan, CEO of Centamin Corporation, noted Egypt’s political stability and security as competitive advantages in attracting mining investments. He mentioned that the Sukari Gold Mine, operated by Centamin, is expected to excavate five million ounces of gold next year. Hogan also announced three initiatives by Centamin to develop Egypt’s mining sector, including steps to establish a mining school. He emphasized the importance of the Arabian-Nubian Shield, which extends across northeastern Africa and Arabia, as a significant site for gold excavation.

Minister Al-Kharabsheh echoed Hogan’s sentiments, highlighting the Arabian-Nubian Shield’s potential for collaboration among Egypt, Jordan, and Saudi Arabia in developing mineral resources. He emphasized the importance of transforming the mining sector into a green and environmentally friendly industry and noted ongoing collaborations with the Ministry of Environment to achieve this goal.

Furthermore, the forum underscored the significance of developing laboratories to inspect samples, saving time and money, and the potential of transforming the eastern desert into a regional hub for gold. This transformation includes studying the establishment of a gold refinery and a logistics services center.