On 16th July 2024, Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, inaugurated the 3rd edition of Egypt Mining Forum (EMF).
The inauguration ceremony was attended by Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al -Kharabsheh, Emirates Ambassador in Cairo, Mariam Al -Kaabi, and CEOs and high-ranking officials from major local and world mining companies, International financing institutions, as well as industry experts and specialists.
In his opening remarks, Minister Badawi underscored the immense potential of Egypt's Mining Sector, which is buoyed by the country's economic reform programme. He highlighted significant initiatives aimed at tapping into this potential, emphasizing the ongoing collaboration with various ministries and agencies to establish a regulatory framework conducive to investment.
The Minister announced the soft launch of Egypt's mining portal which will be fully operational by the end of the year. The platform will provide mining investors quick access to the data they need and also offer incentives.
Eng. Karim Badawi during the Inauguration of the 3rd Edition of the EMF 2024 -2
Minister Badawi reaffirmed the Forum's role in promoting the mining sector as an essential driver for sustainable development and energy transition, reflecting the Government's commitment, under Prime Minister Dr. Mostafa Madbouly, to maximize the sector's added value and its economic contribution.
The Minister addressed investment challenges, advocating for a thorough exploration of Egypt's mining capabilities. He emphasized the need for continuous dialogue among stakeholders to ensure mutual benefits while safeguarding the environment. Furthermore, he proposed transforming the Egyptian Mineral Resources Authority (EMRA) into an economic entity to enhance operational efficiency and decision-making processes.
He also announced plans for periodic tenders for investors in gold exploration and extraction, alongside commitments to expedite digital projects and reduce emissions. Minister Badawi assured to industry partners his dedication to addressing any obstacles they may face and to executing the new government's initiatives aimed at boosting the Mining Sector's economic contributions.
He highlighted Egypt's abundant mineral resources and advanced infrastructure including state-of-the-art road network. The Minister also noted that the country is located within the Nubian Shield, and that it aspires to expand co-operation with all parties, as the government is working to maximize the added value of the country's resources. This underscores the government's commitment to promoting Egypt as a desirable destination for advanced investment that benefits from extensive co-operation with the private sector.
The Minister also highlighted ongoing reforms aimed at enhancing the Sector as the country has diverse mineral resources including gold, copper, silver, zinc, platinum, and other valuable minerals.
Current estimates reveal that Egypt holds approximately 7.3 million ounces of gold reserves, with last year's production reaching around 560,000 ounces, in addition to 17.5 million tons of other minerals.
Projections indicate production to increase to 800,000 ounces of gold and 30 million tons of other minerals by 2030, to raise the mining sector's contribution to the national economy to 5 %, up from less than 1% currently.
Eng. Karim Badawi during the Inauguration of the 3rd Edition of the EMF 2024 -3
