The Egyptian government has been commended by global mining giants for its efforts to improve the investment climate in the sector. The country's President, Abdel Fattah El-Sisi, inaugurated the Egypt Mining Forum 2026, which saw participation from leaders of major mining companies and institutions. They expressed their views on the future of the mining sector in Egypt and praised the ongoing reforms aimed at enhancing the investment environment and promoting exploration and production activities.
Alberto Calderon, CEO of AngloGold Ashanti, praised President El-Sisi's vision for updating Egypt's economy and elevating the mining sector. He commended the efforts made by the Ministry of Petroleum and Mineral Resources over the past two years to translate this vision into practical steps and create an attractive investment environment. Calderon noted that 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 Egypt's promising geological prospects. Calderon stated that the company's decision was informed by four key pillars: promising geological prospects, human resources, infrastructure, and government support. He added that the Sukari mine is a practical example of Egypt's geological potential and wealth.
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. He stated that the company has allocated a multi-million-dollar budget for exploration activities in unexplored areas in 2027, aiming to make new discoveries. Calderon also highlighted the company's plans to utilize its specialized teams and technologies, such as satellite mapping, aerial geophysical surveys, and drilling technology.
Doug Horak, CEO of the Australia-Africa Minerals and Energy Group (AAMEG), expressed his appreciation for the growing cooperation between Egypt and Australia in the mining sector. He noted that Egypt is going through an important phase aimed at supporting growth and developing the mining sector. Horak emphasized the need for continued cooperation and partnership between Egypt and Australia to convert plans into practical steps.
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. He noted that the Egyptian sector is undergoing a significant transformation that enhances 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, and improving market access.
Namrata Thapar, Global Director for the Mining and Metals Sector at the World Bank Group, highlighted the importance of the Egypt Mining Forum as a platform for dialogue and cooperation on the future of the mining sector. She noted that Egypt is moving forward with its development goals, and the results of the reform agenda provide a basis for further cooperation and investment.
Key points
- Egypt's ongoing reforms in the mining sector have been praised by global mining giants.
- The country's geological prospects and wealth have been cited as major attractions for investors.
- The mining sector is expected to play a significant role in Egypt's economic growth and development.
