CAIRO - 2 February 2026: Petroleum and Mineral Resources Minister Karim Badawi said that Egypt plans to repay between $250 million and $350 million in arrears owed to foreign oil companies during the first quarter of 2026.
Speaking at an event organized by the American Chamber of Commerce in Cairo, Badawi said Egypt has reduced outstanding dues to foreign partners by 60 percent to 70 percent, while settling all monthly payments through the end of December.
The minister said Egypt is preparing to implement $4.5 billion in new investments across six projects over the coming four years, in cooperation with the private sector.
Badawi also announced plans to launch an integrated digital platform for the mining sector by the end of the first quarter or early in the second quarter of the current year.
The platform will cover the full investment cycle, including expressions of interest, evaluation procedures, and the electronic issuance of licenses, aiming to streamline processes and enhance the sector’s appeal to local and foreign investors.
The petroleum ministry aims to increase the mining sector’s contribution to gross domestic product to between 5 percent and 6 percent, up from around 1 percent currently, and is working to transform the Egyptian Mineral Resources Authority into an economic entity.
Egypt has promising investment opportunities in minerals such as gold, phosphate, quartz, silica, potash, kaolin, and sulfur, according to the minister.
Egypt is also preparing to launch its first comprehensive aerial mineral survey in 40 years during the first quarter of the year, to update geological data and build a database to help attract regional and global mining investments.
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