Arab Finance: Egypt has implemented key reforms to improve its mining investment environment and attract more foreign investment, Petroleum Minister Karim Badawi said at the Africa Down Under (ADU) conference in Australia.

The reforms include updating mining legislation, implementing a new exploitation model based on royalties and taxes, launching an open-blocks system for year-round investment opportunities, and establishing a one-stop shop to streamline licensing and approvals.

The program came in response to demands raised by investors, within the framework of an ongoing dialogue with the mining community since the fourth quarter (Q4) of 2024.

Badawi outlined the vital role of the Mineral Resources and Mining Industries Authority (MRMIA) and how its transformation into an effective economic entity supports work on various aspects of mining activity, including aerial surveys and geological missions.

This shift helped provide up-to-date information that helps mining companies explore more efficiently, direct their investments to the most viable areas, and reduce exploration risks and costs.  

He also revealed that Egypt has 100,000 square kilometers of exposed basement rock in the Eastern Desert and South Sinai, offering potential for gold, copper, nickel, cobalt, platinum group metals, and rare earth elements.

Finally, the minister called for stronger cooperation with Australia in mining investment, technology, services, and training, and invited investors to attend the Egypt Mining Forum on September 28 in the New Capital.