Egypt's Petroleum and Mineral Resources Minister Karim Badawi announced plans to finalize procedures for a nationwide aerial mineral survey to attract investments in gold and mineral exploration. The statement came during a meeting with the board of the Mineral Resources and Mining Industries Authority, chaired by Yasser Ramadan. The discussion centered on operational plans following legislative changes that grant the authority greater financial and administrative flexibility.
Egypt's Petroleum and Mineral Resources Minister Karim Badawi stated that the country is finalizing procedures for a nationwide aerial mineral survey, aimed at drawing new investments into gold and mineral exploration. This announcement was made during a meeting with the board of the Mineral Resources and Mining Industries Authority, chaired by Yasser Ramadan. The session addressed operational plans in the wake of legislative amendments that restructured the authority as an economic entity, providing enhanced financial and administrative flexibility.
Badawi noted that the ministry is engaging with multiple companies to secure fresh investments for exploring gold and other minerals, while also monitoring the granting of new licenses for prospecting and exploiting various mining ores. The board examined ongoing collaborations with Egyptian and international firms to advance industrial projects that maximize value-added returns from national resources, particularly emphasizing phosphate reserves. These efforts align with the ministry's goals of easing mining investments and boosting the sector's economic contributions.
Attendees included Mohamed El-Bagoury, supervisor of the ministry's Central Department for Legal Affairs, along with representatives from the ministries of defense, industry, finance, and environment. Experts and delegates from the Federation of Egyptian Industries were also present. Badawi highlighted the need for complete coordination and integration among board members and state bodies to devise a strategy for the optimal exploitation of mineral wealth, instructing the board to convene regular meetings to track initiative progress.