Minister of Petroleum and Mineral Resources Karim Badawi met with a delegation from AngloGold Ashanti, an investor in the Sukari Gold Mine in the Eastern Desert, to review the sector’s latest efforts to attract and promote new mining investment opportunities.

The delegation included the Chief of Sustainability and Corporate Affairs Officer of the company, Stewart Bailey and the General Manger and Managing Director of Sukari Gold Mine Company, Hoda Mansour.

During the meeting, Badawi reviewed the Ministry of Petroleum and Mineral Resources (MoPMR) work areas, including its efforts within the framework of integrated government action to promote investment in the Egyptian mining sector by creating an attractive environment for investors. 

Badawi indicated to the new agreement for that was signed with initials with AngloGold and Barrick Gold at the end of 2024 for the exploitation of gold and associated minerals.

He added that the MoPMR is in the process of completing the legislative procedures in the House of Representatives for the final signing to begin implementation of the agreement, which will support the rapid injection of more investment and encourage international companies to accelerate the exploitation of their capabilities and technologies in gold exploration and exploitation.

Badawi explained that the latest efforts to market investment opportunities in the mining sector and to transform the Egyptian Mineral Resources Authority (EMRA) into an economic authority. 

He also highlighted efforts to leverage Egypt’s extensive infrastructure, as well as the cooperation with the Ministry of Environment to meet environmental regulations and operate sustainably in mining activities.

Moreover, Badawi noted to the upcoming opening of a mining school in Marsa Alam at the Sukari gold mine. This school is the first of its kind in Egypt in the mining sector and aims to enhance expertise and prepare human capital capable of working in mining activities.

For his part, Bailey expressed his happiness with the company’s operations in Egypt, describing its recent investment in the Sukari mine as the most significant step in the company’s history over the past two decades. 

He emphasized the company’s seeks to add more discoveries to concession areas in Egypt, with investments to date amounting to $150 million. 

From her part, Mansour praised the MoPMR’s vision and efforts to promote investment in the mining sector, stressing that AngloGold Ashanti looks forward to working quickly with the Ministry and EMRA to achieve positive results in the coming period.