Karim Badawi, Minister of Petroleum and Mineral Resources, met with senior executives from Canada’s Barrick Gold and Lotus Gold, as well as Australia’s BHP, on the sidelines of the Future Minerals Forum, to discuss upcoming gold and mineral exploration programs, joint investment opportunities, and ways to leverage Egypt’s mining reforms to attract long-term international investment.
Badawi reviewed with Mark Hill, Chief Executive Officer (CEO) of Barrick Gold, the company’s near-term operational roadmap, including the launch of new gold exploration campaigns in additional Eastern Desert blocks once the regulatory procedures are finalized. The company conducted geological survey across several Egyptian prospects in 2025, aimed at expanding its upstream investment portfolio in the country.
Both sides underscored the importance of Egypt’s newly approved competitive contractual model for gold and mineral exploitation, which is designed to enhance fiscal terms, improve investment sentiment, and create a more attractive operating environment for international mining operators. The framework is expected to facilitate increased capital inflows into Barrick’s licensed acreage in Egypt.
Badawi said that the ministry’s strategy is focused on positioning Egypt as a regional hub for global mining investment, noting that the partnership with Barrick represents a cornerstone in advancing this objective and strengthening Egypt’s competitiveness in the minerals sector.
For his part, Hill confirmed Barrick’s commitment to strict project timelines to deliver tangible exploration results, praising Egypt’s ongoing legislative modernization and regulatory reforms, which he said support the company’s expansion plans and operational ramp-up in the Egyptian market.
Egypt signed deals in 2025 with major gold mining companies for the exploration of gold and associated minerals, including a framework agreement with Barrick Gold.
The Minister also met with Mike Silver, CEO of the Canadian Lotus Gold Corporation, and Omar Nasser, the company’s Managing Director, to review the company’s activities in Egypt and its future expansion plans in the Egyptian mining sector.
Lotus Gold officials reaffirmed their strong commitment to long‑term investment in Egypt and welcomed the recently announced package of reforms and incentives, noting that these measures enhance the competitiveness and attractiveness of Egypt’s investment climate for mining companies. Lotus Gold is a private Canadian gold exploration and development company, focused on the Egyptian Eastern Desert. its interests include 10 blocks and a leading in-country land package of 1,740 sq km within the highly prospective Arabian-Nubian Shield.
The Minister also met with Tim O’Connor, Group Exploration Officer at BHP, Australia’s giant multinational company, to explore cooperation opportunities in mineral exploration in Egypt. During the meeting, he highlighted Egypt’s vast mineral wealth, which offers promising opportunities for the company, including iron ore, copper, gold, and potash, as well as critical minerals that support the energy transition.
