Egypt to upgrade mining investment law
Egypt is preparing to overhaul its mining sector through the introduction of a new investment law, aimed at significantly increasing the industry’s role in the national economy.
Petroleum and Mineral Resources Minister Karim Badawi announced that the current contribution of the mining sector is approximately 0.5% of the country’s gross national product (GNP). However, under Egypt’s Vision 2030 strategy, the government aims to elevate this figure to 6%. This transformation seeks to make the mining industry a central pillar of Egypt’s economic growth.
Comprehensive strategy
The forthcoming legislation, developed with the support of international consultancy firms, is designed to attract greater foreign investment. It will offer a set of improved incentives and establish a modern framework to govern mining activities. The law will also support a comprehensive strategy for geological assessments, exploration efforts, and the development of updated national mining maps, creating a clearer pathway for investors to engage in the sector.
In addition to regulatory reforms, Egypt launched a digital mining portal in 2024 to further enhance transparency and accessibility. This online platform will provide potential investors with detailed geological data, maps, and information about bidding opportunities. It is also intended to promote Egypt’s mineral resources to international markets. The portal focuses on 27 minerals, including key resources like gold, iron, and zinc, reflecting the country’s growing potential as a significant player in global mineral production.
In 2023, Egypt’s metal output reached roughly 13 million tonnes, with exports exceeding 2.3 million tonnes. These figures underscore the sector’s existing capabilities and its potential for expansion under the new legal and digital infrastructure. The reform is also aligned with Egypt’s broader economic goals, particularly its commitment to structural reforms recommended by the International Monetary Fund (IMF).
