By 2025, Egypt aims to join the ranks of the world’s top 20 gold exporters, expanding local ore production.. Thus, Egypt is set to launch a new gold and associated minerals exploration bidding process in Q1 2025.
Strengthening the Gold Sector and Attracting Investment
This announcement came during a recent meeting with officials from South Africa’s AngloGold Ashanti. Discussions centered on the ongoing exploration and drilling operations at Egypt’s Sukari gold mine, following AngloGold’s acquisition of Centamin, the mine’s former owner. The talks also underscored Egypt’s drive to expand its mining industry and attract more foreign investment.
In line with its ambitions, Egypt is also in talks with Turkish investors to establish domestic gold production. Ehab Wasif, head of the gold and jewelry industry division at the Federation of Egyptian Industries (FEI), emphasized that Egypt is actively working to position itself as a significant player in the global gold export market.
A Stronger Mining Workforce for Sustainable Growth
Alongside its exploration initiatives, Egypt is taking steps to foster local expertise in mining. The country is progressing on plans to open a mining school in September 2025, which was initiated by Centamin. This institution will focus on training Egypt’s youth in essential mining skills.
AngloGold Ashanti’s Commitment to Sukari Mine
AngloGold Ashanti, which recently acquired Centamin, has reaffirmed its commitment to further developing the Sukari mine. This includes additional exploration and development activities to enhance the mine’s output and expand its operations. The company’s investments will contribute significantly to Egypt’s gold production goals. During the meeting, the Egyptian Mineral Resources Authority and AngloGold Ashanti also signed a draft agreement for further gold exploration, pending final approvals.
A Growing Focus on Gold Production and Export
Egypt’s efforts to become a top gold exporter are gaining momentum. The new exploration bidding process, along with discussions with Turkish investors, reflects the country’s growing focus on boosting its gold production and export capacity.
