Egyptian President Abdel Fattah Al-Sissi received Alberto Calderon, CEO of AngloGold Ashanti, on September 28, 2026, on the sidelines of the Egypt Mining Forum 2026 in Cairo. The meeting aimed to review the company's investments and prospects for cooperation in the mining sector, according to a presidential statement. AngloGold Ashanti specializes in gold extraction and has identified Egypt as a priority investment destination.
During the meeting, Al-Sissi emphasized the importance of expanding the partnership between Egypt and AngloGold Ashanti in the mining sector. The partnership could include exploration, technology transfer, training of Egyptian cadres, development of local supply chains, and attracting new investments. AngloGold Ashanti acquired Centamin, the previous operator of the Sukari gold mine, in November 2024 and has since become the mine's operator.
The Sukari mine is one of the 15 largest gold mines globally, producing 500,000 ounces of gold annually, which accounts for 70% of Egypt's national production. In 2025, AngloGold Ashanti invested $262 million in the mine. The company plans to increase investments in several promising mining sites in Egypt in the coming period. Al-Sissi assured that Egypt aims to support the company's investments and create a favorable business environment.
Alberto Calderon highlighted the Egyptian authorities' efforts to overcome potential challenges faced by AngloGold Ashanti in the country. He presented an update on the company's investments in Egypt and other countries where it operates. Egypt's mining sector has shown significant growth, with gold and silver production reaching 640,000 ounces in the 2024-2025 fiscal year, up 14% from the previous year.
The total revenue from Egypt's mining sector was approximately $1.5 billion, up 57% from the previous year. AngloGold Ashanti's investments in Egypt are expected to contribute to the growth of the sector. The company aims to increase its exploration and development activities in the country, focusing on discovering new projects like the Sukari mine.
The Egypt Mining Forum 2026 brings together industry leaders and stakeholders to discuss investment opportunities and challenges in the country's mining sector. The forum provides a platform for companies like AngloGold Ashanti to showcase their investments and plans for Egypt. President Al-Sissi's meeting with Calderon underscores the government's commitment to supporting mining investments and fostering partnerships with international companies.
Key points
- AngloGold Ashanti plans to increase investments in Egypt's mining sector.
- The Sukari mine produces 500,000 ounces of gold annually, accounting for 70% of Egypt's national production.
- Egypt's mining sector revenue reached $1.5 billion in the 2024-2025 fiscal year, up 57% from the previous year.
