Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that Egypt possesses exceptional qualifications in the mining sector, positioning it as an attractive investment destination. These qualifications include its strategic geographical location, developed infrastructure, and abundant natural resources. He emphasized that joint cooperation and integration are key to achieving success in the Nubian Shield region.
Badawi’s remarks were made during his participation in the first dialogue session of the Egypt Mining Forum, which included Dr. Saleh Kharabsheh, Minister of Energy and Mineral Resources in Jordan; Martin Horgan, CEO of Centamin Gold Corporation; Tonno Vahk, CEO of Aton Resources Canada; Mike Silver, President of Lotus Gold Canada; and Dr. Heike Harmgart, Director of the European Bank for Reconstruction and Development for the South and East Mediterranean Region.
Badawi highlighted the crucial role played by global companies operating in Egypt’s mining sector and their significant contributions. These include providing advanced technologies, modern techniques, and expertise. Additionally, he noted the support and involvement of financial institutions in supplying the necessary financial resources for investment in this vital sector, ensuring success for all parties involved.
Dr. Saleh Kharabsheh emphasized that the Nubian Shield, which extends across Egypt, Jordan, and Saudi Arabia, offers exceptional opportunities for cooperation in mineral resource development. He noted that the successes in resource development and exploitation in Egypt and Saudi Arabia can be leveraged in Jordan, enhancing their mining strategy. This is particularly important given the growing contribution of mining to development efforts, energy support, and industrial transformation, especially as studies suggest that the world will need ten times the current amount of minerals.
Dr. Heike Harmgart affirmed the European Bank for Reconstruction and Development’s support for the efforts of the Egyptian and Jordanian governments in developing their mining sectors. This support aligns with commitments to energy transition, green mining, sustainability, increasing private sector participation, and transparency in providing exploration information.
Mr. Martin Horgan, CEO of Centamin Gold Corporation, highlighted the Nubian Shield as one of the most important mining regions, noting the significant untapped gold reserves and other promising areas. He praised Egypt’s effective management of regional and global challenges, as well as its economic reforms, which have made the country an attractive investment destination. He also emphasized the potential for solar energy to support mining projects in Egypt.
Mr. Mike Silver, President of Lotus Gold Canada, acknowledged the government’s support for the company’s ambitious investment plans in Egypt. He emphasized the focus on achieving commercial discoveries and the economic management of projects through increased efficiency and cost reduction.
Mr. Tonno Vahk, CEO of Aton Resources Canada, expressed excitement about the growth of their business in Egypt. They are currently completing gold mine construction studies following a commercial discovery. He praised the ongoing cooperation with the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority, as well as the support from the Egyptian state for investments, including the establishment of a joint company.
