Egyptian President Abdel Fattah Al-Sissi received Alberto Calderon, CEO of AngloGold Ashanti, on the sidelines of the Egypt Mining Forum 2026 in Cairo. The meeting aimed to discuss the company's investments and cooperation prospects in the mining sector. According to the presidency, Al-Sissi and Calderon reviewed the current state of AngloGold Ashanti's operations in Egypt and explored opportunities for expansion. Egypt is a priority investment destination for AngloGold Ashanti.
AngloGold Ashanti has become the operator of the Sukari mine after acquiring its previous operator, Centamin, in November 2024. 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 Sukari mine. The company plans to increase investments in several promising Egyptian mining sector sites.
President Al-Sissi emphasized that the partnership between Egypt and AngloGold Ashanti could be extended to include mining exploration, technology and expertise transfer, training of Egyptian cadres, and development of local supply chains. He added that Egypt aims to support the company's investments and create a favorable environment for its activities. Calderon highlighted the Egyptian authorities' efforts to overcome potential difficulties faced by the company.
AngloGold Ashanti plans to invest $400 million in the Sukari mine in 2026, according to the company's Egypt director. The company's investments in Egypt are part of its strategy to expand its presence in the country. Egypt's mining sector has shown significant growth, with the production of mineral wealth reaching 640,000 ounces of gold and silver in the 2024-2025 fiscal year, a 14% increase from the previous year.
The Egypt Mining Forum 2026 aims to promote investment in the country's mining sector. President Al-Sissi reiterated Egypt's commitment to ensuring the success of investments in the sector. The forum brings together industry leaders and stakeholders to discuss opportunities and challenges in the Egyptian mining sector.
AngloGold Ashanti's acquisition of Centamin has not affected Egypt's rights in the Sukari deposit or its revenues, according to the Minister of Petroleum and Mineral Resources. The company's investments in Egypt are expected to contribute to the country's economic growth and development.
Egypt's mining sector is expected to continue growing, driven by government support and investment from companies like AngloGold Ashanti. The country's rich mineral resources and strategic location make it an attractive destination for mining companies. KEY_POINT: AngloGold Ashanti plans to increase investments in Egypt's mining sector.
Key points
- Egypt aims to support investments in the mining sector and create a favorable business environment.
- The Sukari mine is one of the largest gold mines globally, producing 500,000 ounces of gold annually.
