Karim Badawy, Egyptian Minister of Petroleum and Mineral Resources, said that the Egyptian government seeks to increase the mining sector’s contribution to the national product to 5 percent by 2030.
Badawy added in a speech during the opening of the Egypt Mining Forum (EMF) in its third edition that Egypt’s current gold production amounts to 560,000 ounces annually, and aims to reach 800,000 ounces annually by 2030. It also aims to produce 30 million tons of other minerals in the same year. With the mining sector’s contribution to the national product increasing to 5 percent.
The minister pointed out the launch of the Egypt Mining Portal as a digital platform by the end of the year to enhance investment in the sector. He also stressed the importance of safety in the mining sector and cooperation with the Ministry of Environment to transform the sector into a green, environmentally friendly sector, with a focus on developing human resources to achieve economic and development goals.
For his part, Martin Horgan, CEO of Centamin International, which operates the Egyptian Sukari gold mine, confirmed that Egypt is competing with many countries in attracting investments in the field of mining.
He explained that the Sukari mine is considered a global model thanks to its huge gold reserves, and that the company is continuing to develop it and pump new investments in cooperation with the Egyptian government.
Horgan pointed out that Egypt has promising mining opportunities and distinguished human skills that will contribute to the growth of the Egyptian economy.
He pointed out that it is expected that 5 million ounces of gold will be extracted during the next decade from the Sukari mine.
He also announced three new initiatives to develop the mining sector in Egypt, including measures to launch a mining school, noting that these initiatives will enhance Egypt's position as an investment destination in the mining sector.
More than 4,000 participants from 34 countries participate in the two-day forum.
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