AngloGold Ashanti Expands Investment in Egypt’s Mining Sector

AngloGold Ashanti, a leading global mining company and investor in Egypt’s Sukari Gold Mine, is exploring new opportunities for gold discoveries in the country. So far, the company has invested $150 million in Egypt’s mining sector.

This was discussed during a meeting between Minister of Petroleum and Mineral Resources Karim Badawi and a delegation from AngloGold Ashanti. The minister presented the government’s strategy to attract more investments by creating a business-friendly environment for the mining industry.

Badawi emphasized that the mining sector remains a strategic priority for the government, which is actively working to simplify licensing procedures, enhance investment returns, and establish a competitive regulatory framework.

He also highlighted the recent signing of an agreement with AngloGold Ashanti and Barrick Gold for gold and mineral exploration. The initial signing took place at the end of last year, and legislative approvals are nearing completion in parliament, paving the way for finalization. This agreement is expected to bring new investments into the sector and accelerate the adoption of modern mining technologies.

To further promote investment, the minister announced plans to launch a digital platform at the upcoming Egypt Mining Forum in July. This platform will provide direct access to investment opportunities, making Egypt a more attractive destination for global mining companies.

Badawi also revealed plans to transform the Mineral Resources Authority into an independent economic entity, granting it greater flexibility in working with investors. This shift aims to increase the mining sector’s contribution to Egypt’s GDP to 5-6% in the near future.

Emphasizing the importance of value-added industries, the minister stressed the need to maximize the use of mined raw materials in downstream sectors, such as petrochemicals and advanced technologies. This will create additional economic benefits and strengthen regional cooperation, particularly in Africa.

As part of efforts to develop skilled labor, Badawi announced the launch of Egypt’s first specialized mining school in Marsa Alam, in collaboration with Sukari Gold Mine. This initiative aims to train professionals for the mining sector, ensuring a sustainable and skilled workforce to support the industry’s long-term growth.