Egypt 2030 Vision in Mining: Maximizing Value Addition on the Road to Economic Growth

Egypt boasts a rich and diverse natural treasure trove within its borders, particularly in the mining sector, which holds immense potential for enhancing economic development and providing employment opportunities. Mining stands as a key driver for diversifying Egypt’s economy, aligning with the Egypt 2030 Vision that focuses on maximizing value addition in this vital sector

Egypt 2030 Vision in Mining

Egypt’s mining industry has a long history dating back to ancient times, encompassing treasures such as gold, phosphates, copper, emeralds, marble, granite, barite, quartz, and various other resources

Egypt aims to achieve its 2030 Vision by developing and modernizing the mining sector, with a focus on maximizing value addition to contribute to increasing the GDP from the mining sector from 0.5% to 5%. This value addition hinges on a set of key efforts and factors outlined by the Ministry of Petroleum and Mineral Resources within the Egypt 2023 Vision, including:

Enhancing Regulatory Environment

Issuing new laws and regulations to make the mining investment environment more attractive
Improving the business climate to encourage more investments and facilitate operations

Attracting Global Companies

– Drawing major global mining companies into the Egyptian market, highlighting the country’s attractiveness as an investment destination through new international tenders for gold and associated minerals

Increasing Production

– Achieving significant success in increasing raw materials and mining product output to meet growing market demands

Developing Local Metal Industries

– Increasing the contribution of local metal industries and directing attention towards manufacturing local metal products to enhance sustainability and stimulate the local economy

Realizing Sustainable Development

– Promoting environmentally-friendly mining methods that rely on clean energy, contributing to maintaining a balance between economic development and environmental protection

These ongoing efforts reflect Egypt’s commitment to enhancing the quality and efficiency of the mining industry, achieving sustainable development that meets the present needs and global markets without compromising the capabilities of future generations

In recent years, Egypt has achieved significant milestones in the mining industry, starting with the implementation of massive projects such as the EgyGold extraction project. Additionally, a Mining Services Center was launched in collaboration with the World Bank

In May 2023, Egypt witnessed the launch of the Quartz Production Complex in Ain Sokhna as part of a strategy to maximize the value of Egyptian mining resources. This project, directed by President Abdel Fattah El-Sisi, aims to efficiently exploit mineral resources to maximize national revenues and boost economic development

These efforts also include initiatives to maximize value from other sources such as limestone and quartz. Major manufacturing projects like the Soda Production Complex and the Silicon Project aim to transform mineral wealth into high-value industrial products

Another aspect of the value maximization strategy involves intensifying collaboration with government entities to develop the Golden Triangle region. This includes improving revenues from mining resources, continuing international tenders, and implementing policies aimed at achieving value addition

Preparations are also underway to launch a dedicated digital platform for the mining and mineral wealth industry in Egypt. This platform will serve as a gateway for investors to access all necessary geological data and maps for presenting investment opportunities in the mineral wealth sector in Egypt. The technical evaluation for this platform has already been completed, with its expected launch in the near future