Announced by the previous petroleum minister Tarek El Molla last year, the digital platform would be the first of its kind in the industry and are in line with governmental reforms and digital transformation goals
To better facilitate investments within the mining industry, Egypt is expected to launch its digital portal “Egypt’s Mining Portal” before the end of the year, according to newly-appointed Minister of Petroleum and Mineral Resources (MoP) Karim Badawi.
Announced by the previous petroleum minister Tarek El Molla last year, the digital platform would be the first of its kind in the industry and are in line with governmental reforms and digital transformation goals.
During his speech on Tuesday while inaugurating the 3rd edition of the Egypt Mining Forum, Badawi revealed that the platform will begin its trial operations, and is set to become a fundamental catalyst for mining investment, offering easy access to essential data.
“We are working to uncover the full potential of Egypt’s mining sector, address challenges, and build on success stories through transparent and honest dialogue. This inclusive approach supports continuous progress, a sustainable future, and the common interests of the state, investors, citizens, and communities while protecting the environment,” Badawi explained.
The PetrolMin highlighted the challenges in attracting new investors into the industry, and noted that transforming the Egyptian Mineral Resources Authority into an economic entity would improve the industry’s attractiveness.
The MoP intends to boost the mining industry’s contribution to Egypt’s GDP to 5%, from under 1%, but did not disclose a timeline.
Badawi emphasized Egypt’s vast mineral resources, highlighting that it possesses a wide variety of mineral resources like gold, silver, zinc, and platinum.
Egypt’s gold reserves are currently around 7.3 million ounces, with 2023's production amounting to 560,000 ounces of gold and 17.5 million tons of other metals, the minister noted.
The reserves are expected to grow to around 800,000 ounces of gold and 30 million tons of other metals by 2030.
