Badawi, Australian companies explore investment opportunities in Egypt's mining sector

Updated 9/7/2025 7:22:00 AM

Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi conducted bilateral meetings with specialized Australian mining companies to discuss investment opportunities in the Egyptian mining sector, according to a statement.

On the sidelines of the leading Africa-Australia mining and energy forum "Africa Down Under" in Perth, Badawi met Howard Golden, Non-Executive Director of Marvel Gold Limited, as the company seeks to acquire promising areas for gold exploration and extraction in Egypt.

Golden affirmed that Marvel Gold enjoys the experience and capabilities required to achieve success in Egypt's mining sector, particularly in light of the government's efforts to provide a favorable investment environment.

He also praised the recent rapid developments witnessed in the Egyptian mining sector, describing it as a promising sector with great potential.

For his part, the minister welcomed the group’s plans and emphasized the importance of companies having clear business plans to ensure maximum benefit from Egypt's mineral resources.

During the conference, Badawi met with Matt Sharples, CEO of Asara Resources Limited, an Australian company specializing in gold and precious metals exploration.

The minister reviewed the recent legislative and regulatory reforms, particularly the approval of the amended model for gold exploitation agreements, which enhances transparency and investment attractiveness.

Meanwhile, Sharple praised Egypt's efforts to develop the mining sector, stressing the importance of a clear and stable regulatory framework. He also expressed his aspiration to visit the state soon to explore investment opportunities.

Finally, the minister met with Asiimwe Kabonga, CEO of International Minerals Resources Ltd. The CEO indicated that his company has been operating in the Arabian Shield region of Saudi Arabia for two years and is looking forward to expanding its operations to include Egypt, which has promising potential.

He agreed to visit Egypt this month to explore available investment opportunities and complete joint discussions to develop cooperation mechanisms that serve mutual interests.