Egypt's Ministry of Petroleum is preparing to announce the results of a gold exploration bid in the Eastern Desert, launched last summer, at the 2026 Egypt Mining Forum. The forum is scheduled to take place this week on Monday and Tuesday, with participation from major mining and exploration companies and investors from around the world. This move is part of the state's efforts to expand mining investments and increase the participation of global companies in gold and mineral exploration in the Eastern Desert.
The bid was launched by the Egyptian Mineral Resources Authority in the Eastern Desert, offering 335 mining sectors covering an area of approximately 650 square kilometers. Of these, 261 sectors were designated for gold exploration, while 74 sectors were allocated for other mineral ores, including phosphate and kaolin. The bid was launched through an open sector system on the authority's official website, allowing investors to electronically select and determine the areas they wish to invest in.
According to sources within the Egyptian Mineral Resources Authority in the Red Sea, the announcement of the bid winners is expected to take place during the Egypt Mining Forum. This event will bring together major companies and investors in the mining sector, providing an opportunity for networking and exploring investment opportunities in Egypt's mining industry. The authority has reported a strong response to the bid, with many companies expressing interest in exploring the country's mineral resources.
The Egyptian government has been actively promoting the mining sector as a key area for investment, citing the country's rich mineral resources and geological potential. The Eastern Desert, in particular, is believed to have significant reserves of gold and other minerals, making it an attractive destination for mining companies. The government's efforts to streamline the bidding process and provide more data on the available sectors have been welcomed by investors.
In addition to the bid announcement, the Shalatin Mining Company is reportedly planning to organize informal gold mining activities by offering around 10 areas to companies operating in this sector, within the Shalatin and Wadi Allaqi regions. This move aims to regulate and formalize the informal gold mining sector, which has been a significant concern for the Egyptian authorities.
The Egyptian Mineral Resources Authority has been working to improve the bidding process and provide more data on the available sectors, making it easier for investors to participate in the country's mining sector. The authority has also been working to enhance the security and safety of mining operations, particularly in the Eastern Desert, where many informal mining activities have taken place.
The announcement of the bid winners is expected to mark a significant milestone in Egypt's efforts to develop its mining sector and attract foreign investment. With its rich mineral resources and geological potential, the Eastern Desert is likely to remain a key destination for mining companies looking to invest in Africa.
Key points
- The Egyptian Ministry of Petroleum is set to announce the winners of a gold exploration bid in the Eastern Desert at the 2026 Egypt Mining Forum.
- The bid offered 335 mining sectors covering an area of approximately 650 square kilometers, with 261 sectors designated for gold exploration.
- The Egyptian government is promoting the mining sector as a key area for investment, citing the country's rich mineral resources and geological potential.
