Digging Up Success: Egypt’s Mining Sector Gets a Golden Upgrade

Image Source: Egypt Today

Egypt is accelerating its vision to emerge as the Middle East and North Africa's prime mining destination, announcing a set of ambitious reforms and value-added initiatives to unlock the maximum potential of the country's mineral riches and accelerate economic growth.

Key Points:

Strategic Revamp: Ministry of Petroleum and Mineral Resources has introduced an operational strategy with a focus on value-added projects for augmenting domestic manufacturing, the production of export-grade minerals, and foreign currency inflow generation.

Sector Restructuring: Egypt is restructuring its Mineral Resources Authority into a standalone economic organization, launching new incentives, investor-friendly policies, and infrastructure development to lure foreign investment and raise mining's GDP share from 0.5% to 6% by 2030.

Digital Investment Portal: A new mining portal offering geological information and investment invitations has been initiated to facilitate licensing and global investors.

Major Projects and Partnerships:

Egypt's leading phosphate exporter, Misr Phosphate Company, is leading exploration and production with a $640 million Abu Tartur phosphoric acid plant and a $500 million Indian joint venture with Indorama to produce phosphate fertilizers.

AngloGold Ashanti will develop operations at the Sukari gold mine, with the government committing support and looking for more gold discoveries to come.

Renewable Energy Integration: Egypt's new energy strategy targets a 42% share for renewables by 2030 and 60% by 2040, reserving natural gas for value-added mineral processing and exports.

Economic Impact: Misr Phosphate's net sales jumped to EGP 7.9 billion in 2024, up 149% year-on-year, with profits rising 194%, indicating the industry's growth potential.

Egypt's far-reaching reforms and high-profile alliances mark a new era for its mining industry, as the nation emerges as a regional powerhouse in both mineral output and value-added processing.

Source: Daily News Egypt