Speech by
H.E. KARIM BADAWI
MINISTER OF PETROLEUM AND MINERAL RESOURCES
On the occasion of
The Opening Ceremony of the 4th Edition of the
Egypt Mining Forum 2025
15th July 2025
– Your Excellency Saleh Ali Al Kharabsheh – Minister of Energy and Mineral Resources, Hashemite Kingdom of Jordan
– Your Excellency Mr. Antonio Oburu Ondo – Minister of Mines and Hydrocarbons, Equatorial Guinea
– Your Excellency Dr. Yasmine Fouad – Minister of Environment
– Your Excellency Counselor/Mahmoud Fawzy – Minister of Parliamentary and Legal Affairs and Political Communication
– Your Excellency Dr. Khaled Abdel Halim – Governor of Qena
– Your Excellency Khalid bin Saleh Al-Mudaifer – Vice Minister for Mining Affairs, Kingdom of Saudi Arabia
– Your Excellency Dr. Polite Kambamura – Deputy Minister of Mines and Mining Development, Republic of Zimbabwe
– Your Excellency Counselor/Ahmed Saad El Din – First Deputy Speaker of the Egyptian House of Representatives
– Representative/Talaat El-Sewedy – Chairman of the Energy and Environment Committee – House of Representatives
– Engineer/Mohamed El Sallab – Chairman of the Industry Committee – House of Representatives
– Representative/Shehata Abou Zeid – Vice Chairman of the Industry Committee – House of Representatives
– Engineer/Mohamed Ismail – Member of the Constitutional and Legislative Committee – House of Representatives
Esteemed Excellencies,
Distinguished Guests,
Ladies and Gentlemen,
Good Morning,
It is with great honor and sincere pleasure that I welcome you all to Egypt for the inauguration of the fourth edition of the Egypt Mining Forum (EMF), as we take together a significant step forward in advancing the full potential of the Egyptian mining sector.
Actually, the Egypt Mining Forum has swiftly transformed into a distinguished platform, bringing together industry leaders and decision makers to engage in the exchange of innovative ideas and explore future opportunities, all with the goal of harnessing the full potential of our mineral resources ad fulfilling our peoples’ aspirations towards maximizing the exploitation of these resources.
Held this year under the theme of “Accelerating Commercial Exploration and Mineral Discoveries”, we aim to leverage this distinguished gathering to explore new opportunities, thereby strengthening Egypt’s position as a premier destination for international investors and accelerating the pace of commercial exploration and mineral discoveries, positioning Egypt prominently on the global mining map.
Excellencies,
Distinguished Guests,
Egypt is a nation distinguished by its unparalleled strategic location and expansive infrastructure.
Coupled with its vast, yet untapped, mineral resources and its position within the Arabian Nubian Shield, Egypt is known as the land of golden opportunities.
Our rich legacy of mineral resources includes gold, copper, silver, zinc, platinum, as well as a diverse range of other precious and base metals.
These enormous potentials are backed by the Egyptian government’s economic reform program, aimed to achieve economic stability, attract investments, and enhance market attractiveness, thus contributing to strengthening Egypt’s position as a distinctive and exceptional destination for international investors and placing it on the global mining investment map, in line with the Sustainable Development Strategy (Egypt Vision 2030).
In line with the directives of His Excellency the President of the Republic of Egypt, emphasizing the necessity of transforming the Mineral Resources Authority from a service-oriented body into an economic entity with legal personality, under the new name of “Mineral Resources and Mining Industries Authority,” and restructuring it to set a comprehensive strategy for maximizing the utilization of Egypt’s mineral wealth and achieving a paradigm shift in the Egyptian mining sector….
Full coordination was in full swing within a framework of cooperation and integrated work among various ministries, authorities, and legislative and executive bodies to implement an appropriate regulatory framework, aimed at providing an attractive investment climate in the mining sector.
And based on this, the Ministry of Petroleum has successfully managed to finalize the transformation of the Egyptian Mineral Resources Authority into an economic entity, under the new name Mineral Resources and Mining Industries Authority (MRMIA) and the relevant law has been issued recently. This transformation allows for its restructuring and setting an integrated strategy to maximize the benefit from Egypt’s mineral wealth.
The new law guarantees the Authority financial and administrative independence in its decision-making, which supports development operations and the management of mining activities. This is achieved by establishing the necessary institutional framework to realize strategic objectives. This framework includes a detailed new organizational structure and key positions, along with a clear definition of regulatory roles and responsibilities, allowing the Authority to fulfill its designated role, without any impediments or difficulties, and also to increase its contribution in supporting the national economy.
The transformation of the Mineral Resources Authority from a service-oriented body to an economic entity also aims to support and develop the mineral resources sector and implement mining sector plans and projects, develop an integrated strategy for regulating geological and mining surveying, exploration, discovery, and evaluation work, as well as preparing related laboratory studies and geological and mining maps.
Furthermore, a key objective is to develop a national strategy for localizing mining industries in coordination with relevant authorities. This will be achieved through the implementation of projects that utilize local mineral raw materials, thereby maximizing the added value of these raw materials. The ultimate goal is to achieve the greatest possible benefit from mineral wealth, contributing to a breakthrough in the mining sector and positioning Egypt as a regional hub for mining industries.
– It’s worth noting that Egypt’s House of Representatives initially approved amendments to the Mineral Resources Law to transform the Authority into an economic entity, on Monday, April 28, 2025, during a session chaired by Counselor Dr. Hanafi Gebali.
– The final approval for this transformation was issued on Tuesday, April 29, 2025.
– Subsequently, Presidential Decree No. 87 of 2025, concerning the amendment of certain provisions of the law, was published in Official Gazette Issue No. 23 on June 10, 2025.
– Based on these developments, the remaining legislative and legal procedures are currently underway, including the issuance of the law’s executive regulations.
This integrated effort also led to the finalization of the ratification procedures for the amended gold and associated minerals exploitation agreement model MMEA. This model is of paramount importance to partners, as it’s designed to provide a clear and internationally compliant framework for governing the exploration and exploitation phases of our mineral resources.
Furthermore, it promotes best practices, ensuring balanced economic outcomes for both industry stakeholders and the government. This, in turn, will contribute to enhancing Egypt’s position on the global investment map as a prime destination for gold and mineral exploration.
Following nearly a year of discussions and negotiations with major mining companies to establish the terms and conditions for an exploitation agreement model of awarded exploration areas, an agreement model has been reached that copes with international agreements in leading mining countries.
A draft of this exploitation agreement model was agreed upon on December 4, 2024, during a meeting with Barrick Gold and AngloGold Ashanti on the sidelines of the British-Egyptian Business Association mission (BEBA) in London.
Consequently, the agreement was initialed on April 20, 2025, and the following subsequent approvals were obtained:
• Ministry of Finance approval for the annex concerning the agreement’s tax and customs regime.
• Approval from the Fatwa and Legislation Departments of the State Council.
• Cabinet approval during its session held on June 25, 2025.
• The House of Representatives was addressed in this regard on June 30, 2025.
• Approval from the Industry Committee was issued on July 2, 2025.
• Final approval was obtained during the plenary session of the House of Representatives on July 7, 2025.
On this occasion, allow me to extend my greetings and sincere thanks to my fellow ministers, the House of Representatives, and the esteemed members of the Industry Committee in the esteemed council for their efforts, cooperation, and integrated work in a one-team spirit to expedite the completion of the law…
Ladies and Gentlemen,
Excellencies,
Esteemed Guests,
To unlock the full potential of the oil, gas and mining potentials in Egypt, we are currently working across six main strategic pillars; the third of which is focusing on achieving a paradigm shift in the mining sector, with the aim of maximizing its added-value as well as increasing its contribution to Egypt’s GDP to 5-6%.
Allow me in the next few minutes to highlight the most important positive results and indicators in the mining sector during 2024/2025, including:
• Production of almost 640 thousand ounces of gold and silver during the year, with an increase of about 14% over the previous year, with total sales reaching about $1.54 billion with an increase of about 57%.
• Production of almost 26 million tons of ores and mining products, with an increase of about 39% over the previous year.
• Export of almost 1.4 million tons of ores and mining products during the year, with an export value of about $52.5 million.
• Mineral wealth development revenues amounted to almost $446 million, with an increase of about 131% over the previous year. It is worth noting that these revenues include gold revenues.
• Announcement of the results of Public Tender No. (1) for 2024 for the exploration of (kaolin sands / glass sand) and associated minerals in the Eastern Desert, which was announced by the Egyptian General Authority for Mineral Resources in December 2024 in several sectors under the royalty and tax system. The tender witnessed significant interest from companies operating in the mining sector, with 20 companies participating, including 19 private sector companies, reflecting the private sector’s confidence in the investment climate supported by the Ministry’s policies aimed at creating fair and fully transparent investment opportunities. 38 offers were received for 7 sectors; 4 sectors for glass sand ore and 3 sectors for kaolin sand ore. The tender results showed the winners as follows:
o Arabian Mines and Quarries Company, for Sector No. (GS 1) glass sand ore.
o Sabilco Egypt for Ores, for Sectors No. (GS 3) and (GS 4) glass sand ore.
o Pacific Mining Company, for Sector No. (KS 1) kaolin sand ore.
o International Petroleum Services Company “INCOM”, for Sectors No. (KS 2) and (KS 3) kaolin sand ore.
• Completion of the first and second phases of the Egypt Mining Portal, which aims to improve the efficiency of the Authority’s operations and support investors. This portal serves as a digital investment platform and a key catalyst for mining investment, supporting transparency, easy access to data, and promoting investment tenders for mining investment opportunities. The final phase is currently underway, signaling the official launch of the platform in the near future.
• Completion of signing the final agreements and contracts for the industrial complex for phosphoric acid production in Abu Tartour Area, in the presence of Major General, Governor of New Valley. The framework agreement was signed between the project shareholders, and the general contractor agreement was signed with the consortium of Chinese companies CSCEC/ECEC to implement the industrial complex. This project represents a paradigm shift aimed at maximizing added value and increasing the economic return from Egyptian phosphate ore, directing it to industries with high returns instead of exporting it as raw material.
This project is considered one of the largest industrial projects aimed at maximizing the added value from Egyptian mineral raw materials, specifically phosphate ore, with a total investment cost of $658 million.
In its first phase, the complex aims to produce 250,000 tons annually of high-concentration commercial phosphoric acid (P₂O₅ 100%), using phosphate ores extracted from the Abu Tartour mines, and employing the latest global technology in design and operation.
The implementation of the project is also considered a historic step to move from raw material production to establishing integrated mining industries that achieve high added value and opens new horizons for Egypt in the field of mining industries based on its mineral wealth.
• In line with the efforts of the Ministry of Petroleum and Mineral Resources to attract Egyptian investors to direct their investments to the mining sector and value-added mining industries, a Memorandum of Understanding was signed with Elsewedy Capital for Investments at the beginning of July, aiming to establish a partnership in the field of exploration, exploitation, and production of phosphate ore in the Nile Valley (Sebaiya mines), in addition to increasing the concentration of phosphate ore.
If the results of the commercial feasibility study for the project demonstrate its viability for exploiting the raw material, the target will be an annual production of no less than 1 million (one million) tons with a P2O5 concentration of no less than 25%.
• Achieving promising results for gold ore occurrences following the field visit by the Barrick Gold team to the Wadi Al-Allaqi area last April to identify promising areas for exploration and mining. Barrick Gold’s report on the analysis results and geological summary of the field visit indicated that the samples taken from the area are promising, as both veins and alteration zones show mineralization over a wide area.
• Completion of the diamond drilling program in the Abu Marwat concession area in the Eastern Desert, which began in June 2024, and the announcement by Aton Resources of the latest drilling results, confirming the presence of high-value mineral intersections, indicating rich concentrations and promising mineral extensions. This reflects the rich geological potential in the Eastern Desert, one of the most promising mineral areas in the Arabian-Nubian Shield.
Recent drilling results have confirmed the presence of high-value mineral intersections, including 33.86 grams/ton of gold and 419 grams/ton of silver. Another intersection recorded 44.59 grams/ton of gold and 103 grams/ton of silver, indicating rich concentrations and promising mineral extensions deep within the rock formations.
These findings are a continuation of the promising data previously announced by the company and reflect the rich geological potential of the area.
• Last but not least, I am pleased to announce the start of implementing a strategic and vital project that includes conducting a comprehensive aerial survey and analytical study of satellite images covering all parts of the Arab Republic of Egypt, with the aim of updating the geological and mining database and identifying areas with promising mining potential. This represents a pivotal step that contributes to attracting more local and foreign investments and achieving sustainable development goals in this vital sector.
It also contributes to achieving a substantial leap in mining activities across the country, demonstrating the commitment of the Egyptian state in taking all necessary steps to advance the mining sector.
• I’m also pleased to announce that, as a culmination of efforts to develop Egypt’s mining system in line with Egypt Vision 2030, we will witness today the signing of an exploration license agreement for gold and associated minerals between the Ministry of Petroleum and Mineral Resources, the Mineral Resources and Mining Industries Authority, and Centamin Central, a subsidiary of AngloGold Ashanti.
Additionally, A framework agreement will be initialed between the Ministry of Petroleum and Mineral Resources, the Mineral Resources and Mining Industries Authority, and Barrick Gold Corporation.
This step clearly demonstrates the strong desire of international companies to expand their investments in the Egyptian mining sector, which serves as global proof of major international companies’ confidence in Egypt’s investment climate, reflecting the success of the state’s policy in attracting foreign investments.
Distinguished Guests, Ladies and Gentlemen,
Focusing only on the technical aspect was not enough to achieve our ambitious vision and realize massive successes. It was in fact necessary to give special attention to the environmental, managerial and technological aspects as well.
We have undertaken a number of green mining initiatives, aligning with the global trend towards decarbonization.
As a natural extension to the Ministry’s efforts in the field of energy transition, we have taken fundamental measures in formulating green mining initiatives to reduce emissions in cooperation with the Ministry of Environment.
Allow me in this context to extend my sincere thanks and appreciation to Her Excellency Dr. Yasmin Fouad, the Minister of Environment for the fruitful and constructive cooperation from the Ministry of Environment and its constant keenness to achieve harmony between the environment and the economic and investment sectors, especially the mining and energy sectors.
I would like to urge all parties working in the mining sector, including national companies and foreign partners, to continue their efforts to commit to reducing emissions and their carbon footprint in pursuit of sustainable and environmentally friendly mining.
Recognizing the importance of the Human Resources, we were very keen to provide capacity building programs based on performance. In light of this, the Ministry of Petroleum and Mineral Resources in cooperation with its strategic partners such as the AmCham and the Canadian Chamber conducted a number of capacity building programs. In addition to participation in other programs in China, Japan and Tanzania. Also, some of EMRA’s specialists have been trained to use international mining codes like JORC.
In addition, we are close to opening a mining school in Marsa Alam, Egypt, in cooperation with AngloGold Ashanti and El Sweedy Institution, which is the first of its kind in Egypt in the field of mining. The school aims to enhance expertise and prepare qualified human resources capable of working in various mining activities.
Excellencies,
Distinguished Guests,
Today, as we come together to inaugurate the fourth edition of the Egypt Mining Forum, I am confident that the discussions and collaborations we engage in will further propel the growth and development of Egypt’s mining sector.
We have thoughtfully crafted an agenda for this forum that highlights Egypt’s achievements and progress as well as the reforms undertaken in the mining sector, along with exploring opportunities and plans, as well as the future steps. We hope it will provide valuable insights and be highly informative for all the industry leaders in attendance.
The conference is set to host numerous important discussion sessions within both the Strategic and Technical Conferences, featuring a distinguished group of prominent speakers. These include a Ministerial Session to discuss attracting strategic partners, a session for Governors on their role in creating an attractive investment climate in their respective governorates, and a session for Ambassadors to share their perspectives on Egypt’s mining investment climate.
Additionally, a session for major global mining investors will be held to explore ways for Egypt to enhance its competitive position in the global mining sector. The second day of the Strategic Conference will feature several key sessions, including one on the new Mineral Resources Law.
Several technical sessions will also take place, focusing on the latest developments in project implementation, sustainable best practices, and innovative technologies and solutions being applied across various areas of the mining industry.
We also look forward to presentations from mining companies and comprehensive, constructive discussions highlighting the latest technologies and practices in the global mining industry.
Let me conclude by saying that reaching our goals will demand unwavering commitment, innovation and collaborative efforts from the government, international organizations, the public and private sectors, financial institutions and indeed, everyone involved in the mining sector.
I would also like to reiterate the commitment of the Egyptian Cabinet, under the leadership of His Excellency Prime Minister Dr. Mostafa Madbouly, to continuous teamwork across all ministries and authorities to accelerate investment attraction and work out any challenges or obstacles facing our commercial partners, in line with the government’s program to maximize the mining sector’s contribution to the Egyptian economy.
On this occasion, I must extend my sincere thanks and appreciation for the continuous support of His Excellency the Prime Minister and his close follow-up of the mining sector’s plans and projects, the latest of which was his field visit to the Sukari Gold Mine last May and meeting with officials from AngloGold Ashanti, the partner in the Sukari mine, to review future plans and expansions. This visit reflects the Egyptian state’s interest at all levels in driving investments and accelerating steps to advance this vital sector.
Finally, allow me to welcome you all once again to Egypt and to the Egypt Mining Forum, and I wish you all a successful conference and constructive discussions.
Before ending up my speech, I ask you to join me in acknowledging the key individuals who have played a pivotal role in the significant accomplishments we have achieved over the past year.
While I want to express my gratitude to the entire team behind these efforts, due to time constraints, I will focus on recognizing the primary representatives behind each of these achievements. On that note, I would like to call on stage:
– Your Excellency Counselor/Mahmoud Fawzy – Minister of Parliamentary and Legal Affairs and Political Communication
– Your Excellency Dr. Yasmine Fouad – Minister of Environment
– Eng. Mohamed El Sallab – Chairman of the Industrial Committee – The Egyptian Parliament
– Eng. Mohamed Ismail – Member of the Constitutional & Legislative Affairs Committee – Egyptian House of Representatives
– Eng. Hoda Mansour – Managing Director & Vice Chair – Sukari Gold Mines
– Eng. Ahmed El Sewedy – President and Chief Executive Officer – El Sewedy Electric
Thank you,,,
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