Egypt’s Ministry of Petroleum and Mineral Resources has successfully completed a revised model for its mineral exploitation agreements, marking a significant milestone in the country’s efforts to modernize its mining sector. The updated framework aims to improve the investment climate by ensuring mutual benefits for all stakeholders, aligning with Egypt’s broader strategy to attract international investments and support sustainable growth in the mining industry.
The announcement was made during the British Egyptian Business Association (BEBA) mission in London, where Egypt’s Petroleum Minister Karim Badawi engaged in discussions with officials from AngloGold Ashanti. The talks focused on collaboration opportunities, notably the development of the Sukari Mine, one of the largest gold mines in the world. AngloGold Ashanti officials expressed their support for the revised exploitation agreement and revealed plans to inject more investments into Sukari, focusing on exploration and development to boost production and operational efficiency.
In addition to this, the meeting highlighted the progress of a new initiative to establish a mining school in Egypt. Spearheaded by Centamin, the school is set to open in September 2025 and aims to equip Egyptian youth with the necessary skills to excel in the mining sector. This initiative underscores a long-term commitment to developing local talent and ensuring the sustainable growth of Egypt’s mining industry.
This collaboration and the updated exploitation agreement solidify Egypt’s growing role as a regional leader in gold mining and resource development.
