Egypt Opens the Door to Global Investment in Gold through a Strategic Agreement with AngloGold
Eng. Karim Badawy, Minister of Petroleum and Mineral Resources, witnessed the signing ceremony of a model exploitation agreement for gold ore and associated minerals in selected areas of Egypt’s Eastern Desert.
The agreement was signed between the Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti.
From the Egyptian side, the agreement was signed by Geologist Yasser Ramadan, Chairman of EMRA, and Dr. Mohamed El-Bagoury, Supervisor of the Central Legal Affairs Department at the Ministry of Petroleum and Mineral Resources. Representing AngloGold Ashanti was Eng. Hoda Mansour, Managing Director and General Manager of the Sukari Gold Mine and AngloGold’s representative in Egypt. The ceremony was also attended by Eng. Moataz Atef, Undersecretary of the Ministry for the Minister’s Office and Technical Bureau and official spokesperson, along with Dr. Heba Raslan, the legal representative of AngloGold Egypt.
Following the signing, Minister Karim Badawy emphasized that the agreement is one of the key outcomes of prior meetings held with AngloGold Ashanti’s executives.
He highlighted that developing agreement frameworks to align with international standards is a vital pillar of the Ministry’s strategy. This alignment aims to boost confidence among global mining companies and encourage new investments in Egypt’s mining sector, ultimately contributing to the country’s gross domestic product.
He noted that the agreement reflects integrated teamwork among all stakeholders, and it further promotes the use of modern technologies in exploration and gold prospecting. In this regard, the Minister extended his appreciation to AngloGold for their efforts and for this successful partnership crowned by today’s signing.
Badawy added that the agreement marks a new leap forward for Egypt’s mining sector and underscores the seriousness of the Ministry’s strategy being translated into tangible outcomes. He pointed out that this partnership paves the way for other global mining companies to invest in Egypt’s untapped gold and mineral resources.
From her side, Eng. Hoda Mansour praised the recent developments in Egypt’s mining sector and Minister Badawy’s unwavering support, as well as the efforts of EMRA and the Ministry’s team in removing obstacles facing the company and investors to accelerate operations. She expressed her pleasure at signing the agreement, which she described as a new chapter in AngloGold Ashanti’s investment expansion in Egypt.
