He highlighted the sector’s current contribution of around 1% to Egypt’s GDP, noting its significant potential to grow to between 5-6% in the medium term.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with a delegation from AngloGold Ashanti and Centamin, following AngloGold Ashanti’s recent entry into the Egyptian mining sector. The company acquired Centamin, the previous investor in Egypt’s Sukari Gold Mine, establishing itself as a new strategic partner in one of Egypt’s most significant mining projects.
The minister reiterated Egypt’s commitment to developing the mining sector, aiming to create an attractive environment for investment and offering substantial opportunities. He highlighted the sector’s current contribution of around 1% to Egypt’s GDP, noting its significant potential to grow to between 5-6% in the medium term. This ambition is supported by the government’s focus on enhancing collaboration, promoting industrial activities in mining, and implementing policies that support sustainability.
Marcelo Pereira da Silva expressed AngloGold Ashanti’s enthusiasm for the opportunity to invest in Egypt, underscoring the company’s focus on long-term projects. He described Sukari as a monumental project and voiced eagerness to unlock more potential within the mine, building on Centamin’s successful cooperation with the Mineral Resources Authority. He also emphasized AngloGold Ashanti’s dedication to environmental sustainability in its mining operations, marking it as a key priority.
Centamin’s CEO, Martin Horgan, shared his pride in Centamin’s achievements in Egypt and praised the country’s promising mining potential. He noted that Egypt is on the verge of a transformative era in mining, as efforts continue to unlock new possibilities and enhance the sector.
