Minister of Petroleum: We are working on regulatory amendments to attract more investments to the mining sector
Developing a digital platform to display and market investment opportunities in this vital sector
Karim Badawi, Minister of Petroleum and Mineral Resources, said that there are regulatory amendments underway to attract more investments to the mining sector, in addition to developing a digital platform to display and market investment opportunities in this vital sector, noting that the Sukari gold mine is a model to be emulated in successful partnerships, expressing the ministry’s aspiration to replicate this model.
This came during the meeting of the Minister of Petroleum and Mineral Resources with Sarah Jones, British Minister of Industry, on the sidelines of the activities of the Fourth International Mining Conference in Riyadh, where the two parties renewed their countries' commitment to enhancing joint cooperation in the petroleum and mining sectors. The meeting discussed Egypt's plans to update its mining strategy with the aim of raising the sector's contribution to the gross domestic product from 1% to 6%.
Badawi stressed the pivotal role played by leading British companies such as BP, Shell and Harbour Energy in supporting and developing the Egyptian energy sector, expressing his keenness to expand this successful cooperation to include the mining sector, referring to the successes achieved during Egypt’s participation in the British Egyptian Business Association (BEBA) activities in the United Kingdom, which he chaired in December 2024, which resulted in the signing of three memoranda of understanding aimed at enhancing investment and innovation in the energy and mining sectors in Egypt. He pointed to the importance of the solid partnership between the two countries, which has proven its strength in the face of challenges and changing circumstances.
For her part, the British Minister of Industry confirmed the United Kingdom's commitment to continue supporting this cooperation, and invited Egypt to participate in the "Metals Week" scheduled to be held in London next October.
She also offered to benefit from British expertise in the fields of technology, finance, and education to support human capacity building in the Egyptian mining sector. The possibility of cooperation between the British Geological Survey and the Egyptian Mineral Resources Authority in the field of training and development of competencies was discussed.
The meeting concluded with an invitation to Minister Jones to visit Egypt and attend the “Egypt Mining Forum” scheduled to be held in July 2025, paving the way for further discussions and agreements to enhance the strategic partnership between the two countries. Both sides expressed their optimism about the future of cooperation between the United Kingdom and Egypt in these vital sectors.
