Egyptian Minister of Petroleum and Mineral Wealth, Karim Badawi, emphasized that his ministry is working to create an attractive investment environment for the mining sector. This includes encouraging global, regional, and local companies to enter and expand their investments in Egypt, leveraging successful international experiences in developing and utilizing mineral resources. These comments were made during a high-level roundtable discussion with ministers and CEOs from African and Arab countries.
The roundtable, titled "From Exploration to Markets: Enhancing Mineral Value Chains in Africa," was held in conjunction with the fifth edition of the Egypt Mining Forum. Minister Badawi highlighted the importance of collaboration between governments and investors, adopting best practices, and creating clear national frameworks for mineral wealth development. He stressed that attracting major global companies for long-term exploration, production, and development is crucial.
Tanzania's Minister of Minerals, Anthony Mavondy, shared his country's vision for transitioning from raw material extraction and export to building integrated value chains, including processing and refining. Tanzania aims to increase its high-precision geological and geophysical surveys from 16% to 100% by 2030. This initiative seeks to provide more accurate data, reduce investment risks, and explore critical and strategic minerals such as nickel, graphite, and rare earth minerals.
Kenyan Minister of Mining, Blue Economy, and Maritime Affairs, Hassan Ali Joho, underscored the importance of policy alignment and dialogue at the continental and regional levels. He noted that African countries have common opportunities in the mining sector that can be developed collectively. Joho called for continued dialogue on mining policies and creating a supportive business environment for investment.
African Mineral Strategy Group (AMSG) Secretary General, Moses Michel Ingado, emphasized that discovering mineral resources is just the beginning. The real challenge lies in converting these resources into productive projects that reach development, processing, and final market stages. This requires integrating multiple elements, including geological data, infrastructure, governance, energy, and technology.
Australian and African Minerals and Energy Group (AAMEG) CEO, Doug Horak, highlighted the role of Australian companies in supporting mining activities and resource exploration in Africa. He noted that early-stage exploration faces significant financing challenges due to high risks and unclear returns. Horak called for developing specialized financing mechanisms and incubators to help early-stage exploration companies progress.
The discussions concluded with a call for African countries to transition from extracting and exporting raw materials to building integrated value chains. This includes processing, manufacturing, and maximizing local value-added, through the integration of exploration, geological surveys, infrastructure, energy, and logistics. Participants emphasized the importance of clear and stable legislative and regulatory frameworks in attracting long-term investments and financing.
Key points
- The Egypt Mining Forum brings together ministers and officials to discuss boosting Africa's mining sector.
- African countries aim to enhance mineral value chains through policy alignment and investment.
- The forum highlights the need for long-term financing and clear regulatory frameworks to develop the mining sector.
