The 2026 Egypt Mining Forum, inaugurated by Egyptian President Abdel Fattah El-Sisi, brought together leaders from major global mining companies and institutions. They discussed their vision for the future of Egypt's mining sector and praised recent reforms aimed at improving the investment climate and enhancing exploration and production activities. The forum was attended by industry leaders, including Alberto Calderon, CEO of AngloGold Ashanti.
Calderon, whose company is the fourth-largest gold mining company globally, praised President El-Sisi's vision for updating Egypt's economy and elevating the mining sector. He commended the efforts of the Ministry of Petroleum and Mineral Resources over the past two years to translate this vision into practical steps and create an attractive environment for long-term mining investments. According to Calderon, the ministry has addressed the structural, financial, and legal requirements needed by mining investors before committing long-term capital.
AngloGold Ashanti's decision to enter the Egyptian market in November 2024 through the acquisition of Centamin, the owner of the Sukari gold mine, was based on the mine's global standing and promising potential for further discoveries in Egypt. Calderon stated that the company's decision was informed by four key pillars: promising geological potential, human resources, infrastructure, and government support. He noted that the Sukari mine is a practical example of Egypt's geological potential and that the experiences of major gold-producing regions suggest that a large deposit can indicate opportunities for discovering other deposits in surrounding areas.
Calderon revealed that AngloGold Ashanti has recently submitted applications to invest in 19 new areas for gold exploration in the Eastern Desert, covering over 3,000 square kilometers. This move is driven by recent reforms in the mining sector and the company's confidence in Egypt's geological potential. The company has allocated a multi-million-dollar budget for exploration activities in unexplored areas in 2027, aiming to achieve new discoveries.
Doug Horak, CEO of the Australia-Africa Minerals and Energy Group (AAMEG), representing the Australian mining community, emphasized that Egypt is going through an important phase aimed at supporting growth and developing the mining sector. He expressed appreciation for the growing cooperation between Egypt and Australia in this field. Horak noted that the forum's timing is significant, as the global mining sector is experiencing rapid growth in demand for natural resources and strategic minerals.
Rohit Dawan, CEO of the International Council on Mining and Metals (ICMM), stated that Egypt has a clear opportunity to develop a more attractive mining sector, capable of attracting investments. He highlighted that the Egyptian sector is undergoing a significant transformation, enhancing its appeal to investors. Dawan emphasized the importance of continuing to work on a comprehensive package of reforms, including enhancing geological knowledge and capabilities, developing infrastructure, improving market access, and fostering cooperation with local communities.
Namrata Thapar, Global Director for the Mining and Metals Sector at the World Bank Group, noted that the Egypt Mining Forum represents an important platform for dialogue and cooperation on the future of the mining sector. She stated that Egypt is moving forward in implementing its development goals, and the results of the reform agenda provide a basis for further cooperation and investment. The World Bank Group is working to support this direction by building partnerships, encouraging investment, and supporting reforms.
Key points
- The forum attracted global industry leaders who praised recent reforms in Egypt's mining sector.
- AngloGold Ashanti has submitted applications to invest in 19 new areas for gold exploration in Egypt.
- The Egyptian government aims to develop a more attractive mining sector capable of attracting investments.
