Karim Badawi, Minister of Petroleum and Mineral Resources, presented Egypt’s mining investment framework to Australian investors as the country seeks to attract more exploration companies and capital into the sector.
Badawi participated in a roundtable with senior mining investors on the sidelines of the Africa Down Under Mining and Energy Conference in Perth, alongside Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), and Australian mining executives and experts.
Badawi highlighted Egypt’s open blocks system, which allows companies to apply for exploration areas throughout their availability period rather than wait for bid rounds with fixed closing dates. He said the system gives investors greater flexibility and speeds up the move from evaluating an area to starting exploration.
The discussions focused on attracting Australian exploration companies, financing mining projects and applying Australia’s experience in developing junior mining companies. Participants also discussed investors’ access to geological data, regulations and areas available for investment.
Badawi also invited Australian investors to the Egypt Mining Forum, scheduled for September 28-29, where Egypt plans to present investment areas and continue discussions with international mining companies.
The roundtable follows Badawi’s remarks at the Africa Down Under Conference on September 3rd, when he outlined reforms introduced since late 2024, including MRMIA’s one-stop-shop mechanism and the open blocks system. He also cited Egypt’s roughly 100,000 square kilometers of exposed basement rocks as part of the country’s case for attracting exploration investment.
Australian interest had already emerged in August, when Velox Energy Materials CEO Nicole Morecombe met Badawi to discuss a potential entry into Egypt’s mining market. Morecombe said the company’s geological team saw promising potential in the available areas and that this encouraged Velox to consider practical steps toward entering the market.
