Egypt’s mining sector is attracting renewed investor attention due to the untapped potential, growing infrastructure, and regulatory reforms, according to several Australian company heads hosted by Petrocast, the podcast of the Ministry of Petroleum and Mineral Resources (MoPMR).

The episode was recorded during Karim Badawi, Minister of Petroleum and Mineral Resources’ visit to Western Australia.

“The opportunity to grow and expand exploration across the country, in both the eastern and western desert, is significant,” said Doug Horak, CEO of Australia-Africa Minerals & Energy Group (AAMEG).

“The power infrastructure is growing and expanding. Part of Sukari’s power plan going forward is integrating not only with the grid but also with the renewable sector. They have built about a 60-megawatt solar plant, 30 megawatts of which are currently in operation,” Horak said.

He praised developments in Egypt’s infrastructure, citing upgrades to road networks and Red Sea ports. He also highlighted the growth of renewable energy used to power mining machinery, citing the plant at the Sukari gold mine as an example. “The power infrastructure is growing and expanding. Part of Sukari’s power plan going forward is integrating not only with the grid but also with the renewable sector. They have built about a 60‑megawatt solar plant, 30 megawatts of which are currently in operation,” Horak said.

Sherif Andrawes, Global Natural Resources & Energy Leader at BDO, also highlighted Egypt’s abundant mineral resources. While gold currently dominates investor attention due to high prices, he noted that opportunities extend beyond gold to other minerals like copper, coal, and niobium.

“Gold is very much the flavour of the month given current prices, and Egypt undoubtedly has abundant gold opportunities. The first thing people will look for in Egypt is gold, but beyond that there will be more, copper certainly, and other resources such as coal and niobium,” he said.

Howard Golden, Director of Marvel Gold, expressed optimism about Egypt’s mineral wealth and the sector’s recent changes. “Over the past few days we have toured several mines and exploration projects, and they are very impressive. With the recent and proposed reforms to the mining environment, Egypt has a strong and prosperous future ahead in the mining industry,” he said.

Egypt targets the mining sector to contribute 5–6% of GDP by 2030, a significant leap from previous levels. In order to do so, the ministry has undertaken major steps, including the transformation of the Egyptian Mineral Resources Authority into an independent economic body, introducing the Mineral Resources Law, as well as establishing a mining portal.

Furthermore, the mining investment incentives package, which Badawi revealed during his visit to Australia, is expected to attract more investments. The incentives package includes reduced annual fees during early exploration stages, tax and customs exemptions for exploration equipment and supplies. It also includes the issuance of a single license for searching multiple minerals instead of several licenses. The incentives also introduce fast-track, low-cost reconnaissance licenses tailored for startup mining companies.

The regulatory aspect is important for investors. Tim Livesey, a geologist at Capital Limited noted that mining, by nature,  is a long-term investment. A typical investor in the sector waits for more than ten years before getting a return on investment. So the stability of laws and regulations governing the industry is crucial to gain investments.

Livesey further explained that in the mining industry, “we are driven to areas where the deposits exist. We cannot choose where we want to work. It is where the earth gives up its riches. But we can choose the jurisdictions. The investors will follow jurisdictions that are considered to be stable and investable.”

During Badawi’s visit, the Mineral Resources and Mining Industries Authority (MRMIA) signed two Letters of Intent with Murdoch and Curtin universities in Western Australia to exchange expertise through advanced training and knowledge exchange. Additionally, a Memorandum of Understanding (MoU) was signed with Spain’s Xcalibur Smart Mapping to conduct an aerial geophysical survey to assess Egypt’s mining potential nationwide and provide technological solutions for planning and evaluating mineral-rich deposits.

Throughout this year, the ministry signed major deals for the exploitation for gold and associated minerals with top mining companies, including Anglogold Ashanti and Barrick Gold. In addition, the ministry signed deals for building phosphoric acid complexes as well as Soda ash production complex in New Almaden Industrial City.