Arab Finance: AngloGold Ashanti has applied to invest in 19 new gold exploration areas in Egypt’s Eastern Desert, covering more than 3,000 square kilometers, CEO Alberto Calderon said during the opening session of the Egypt Mining Forum 2026.
Calderon noted that the company allocated a multi-million-dollar budget for exploration in untapped areas through 2027. It plans to leverage satellite mapping, airborne geophysical surveying, and drilling technologies to explore the next generation of gold deposits in Egypt.
The CEO addressed AngloGold Ashanti’s entry into Egypt through the 2024 acquisition of Centamin, owner of the Sukari gold mine, lauding the country’s geological potential, skilled workforce, infrastructure, and government support.
Sukari mine has produced more than 6.8 million ounces of gold since 2009, with output reaching around 500,000 ounces in 2025. The mine generated more than $590 million in returns for operations in Egypt last year.
In collaboration with its partners in the Egyptian government, AngloGold Ashanti is implementing a new drilling campaign aimed at extending the mine's lifespan and boosting production, he added.
Moreover, the CEO stated that Egypt’s robust infrastructure contributes to reducing the costs of transitioning from the exploration phase to production, especially when compared to emerging mining markets in the region.
The opening ceremony also featured remarks from representatives of the Australia-Africa Minerals & Energy Group (AAMEG), the International Council on Mining and Metals (ICMM), and the World Bank Group.
President Abdel Fattah El-Sisi attended the opening of the Egypt Mining Forum 2026 event, which is taking place on September 28 and 29 in the New Capital.
Petroleum Minister Karim Badawi said the forum will showcase Egypt’s mining investment opportunities and recent reforms designed to improve the investment climate, boost mineral exploration, and promote downstream industries that add value to raw materials, create jobs, and support exports.
