On the sidelines of the 4th edition of the Egypt Mining Forum (EMF), Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with Gillian Doran, CFO and Executive Director at AngloGold Ashanti; and Hoda Mansour, Managing Director and Vice Chair of Sukari Gold Mines. The meeting discussed ways to enhance cooperation with the Egyptian government to accelerate the granting of exploitation rights, especially for start-up companies. This aims to expand the base of mining investment and increase exploration activities, both in the Sukari region and in new concession areas.
During the meeting, Badawi affirmed the government’s commitment to cooperating with strategic partners and fostering an attractive and stable investment climate. He noted that what has been achieved at the Sukari gold mine serves as a successful model of partnership between the state and the private sector. Badawi also emphasized the Ministry’s dedication to maintaining open communication channels to overcome obstacles and streamline procedures, especially in light of the recent amendments to the Mineral Resources Law and the new model for gold and mineral exploitation, which opens new horizons for investors.
For her part, Doran commended developments at the Sukari gold mine, noting that during her visit to the mine, she witnessed the nature and quality of the work, highlighting that 97% of the workforce is highly skilled Egyptian professionals.
Doran praised the results of AngloGold Ashanti’s acquisition of the mine, asserting that it contributed to the company’s leadership in global performance indicators within the gold sector, and that the Sukari mine was a pivotal element in this distinction.
Badawi further met with Khalid bin Saleh Al-Mudaifer, Vice Minister of Mining Affairs at the Kingdom of Saudi Arabia to discuss ways of enhancing cooperation between the two countries in the mining sector and promoting sustainable development that serves the economic interests of the two sisterly nations.
During the meeting, Badawi reviewed the steps taken to develop the Egyptian mining sector, affirming the Ministry’s endeavor to create an attractive investment environment based on clear legislation and a competitive climate. He also referred to a number of strategic projects, among which is the Phosphoric Acid project, which reflects the direction towards maximizing added value from raw minerals.
For his part, Al-Mudaifer praised the significant turnout and interest shown during the conference the forum witnessed f. He emphasized that there are great shared potentials between Egypt and Saudi Arabia in the field of mining, and that the geographical proximity between the two countries offers greater opportunities for integration and cooperation with international partners.
