lsewedy Electric is planning to boost its investments in Egypt's mining, green energy, exploration services, and the petrochemical industry.

Minister of Petroleum and Mineral Resources Karim Badawi and Algeria’s Minister of Energy Mohamed Arkab discussed ways to enhance cooperation in the mining sector

Egypt is setting its sights on becoming one of the world’s top gold exporters by 2025, a goal reflecting its ambition to enhance its economy and diversify revenue sources. With substantial gold reserves and a rich mining history, Egypt is strategically positioning itself to capitalize on the growing global demand for gold. To achieve its target, the Egyptian government is implementing a series of initiatives to boost gold production and refine its export strategies.

The Ministry of Petroleum and Mineral Resources is aiming to boost the mining sector’s contribution to Egypt’s gross national product (GNP) from the current 1% to between 5% and 6%, Petroleum Minister Karim Badawi announced.

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib held a meeting with Bandar bin Ibrahim bin Abdullah Al Khorayef, the Saudi Minister of Industry and Mineral Resources.

The Egyptian Ministry of Petroleum and Mineral Resources has signed a letter of intent with the Canadian firm Aton Resources to bolster the country’s gold mining sector.

Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat held discussions with senior officials from the International Finance Corporation (IFC) to explore collaboration opportunities in mining and infrastructure development.

Minister of Petroleum and Mineral Resources Karim Badawi has met with Chairman of International Resources Holding (IRH) Ali Al Rashdi, discussing potential collaboration in the mining sector.

Minister of Petroleum and Mineral Resources Karim Badawi met with Australian Ambassador to Cairo Axel Wabenhorst to explore ways to strengthen collaboration in the mining sector and review ongoing cooperation in the oil and gas field.

Asek Company for Mining (Ascom) recorded consolidated net losses attributable to the parent company of EGP 27.898 million in the first three months of 2024, versus net profits of EGP 39.127 million during the same period in 2023.

Egyptian President Abdel Fattah El-Sisi met with officials from a number of Italian mining firms to discuss cooperation prospects to optimize the use of mineral resources in Egypt.

Arab Finance: MA'ADEN, a Saudi state-owned mining company, is interested in investing in the Egyptian mining sector, Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla told Asharq Business in an interview on January 11th. Representatives from the Riyadh-based company will visit Egypt within 10 days to explore the available opportunities for investment in the sector, El-Molla added.