Egypt’s Petroleum Minister Opens the Doors of the Mining Sector to the Chinese Dragon
In a new move reflecting the strategic orientation of the Ministry of Petroleum and Mineral Resources toward attracting foreign investment and strengthening international partnerships, Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, received a high-level delegation from China’s private sector giant, Ximai Holding Company, a leading player in the mining industry.
The meeting aimed to explore potential investment opportunities in Egypt’s growing mining sector.
The Chinese delegation was headed by Mr. Liguao Wu, founder of Ximai Group, and included Mr. Harold Wang, Senior Advisor to the Chairman, in a visit that underscores the increasing interest of major Chinese corporations in the Egyptian market—especially in the mining sector, which is undergoing significant transformation as part of Egypt’s Vision 2030 to maximize returns from its natural resources.
The meeting was attended on the Egyptian side by Geologist Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority (EMRA); Major General Abdelsalam Shafiq, Chairman of the Egyptian Company for Mining, Management and Exploitation of Quarries and Salinas; Major General Dr. Ahmed Mahmoud Abu El-Naga, Assistant Chairman for Projects and Development; and Dr. Mohamed El-Bagoury, Legal Affairs Advisor and Supervisor at the Ministry of Petroleum.
At the beginning of the meeting, Minister Badawi welcomed the Chinese delegation, praising the strong and evolving relations between Egypt and China across various sectors.
He emphasized that the mining sector is one of the vital pillars the ministry is working to enhance through comprehensive reform programs aimed at improving resource utilization, streamlining investment procedures, and creating a competitive environment attractive to global companies.
He highlighted the government’s vision of transforming the mining industry into a key economic contributor, noting that the ministry seeks to establish partnerships with global firms to leverage their advanced technologies and expertise, thereby enabling a qualitative leap in exploration, development, and production.
For their part, the Ximai representatives expressed their deep interest in the Egyptian market, affirming that Egypt is a promising investment destination, especially given the incentives offered by the Egyptian government and the current political and economic stability.
During the meeting, the company’s officials presented their extensive experience of over 25 years in exploiting strategic minerals, particularly tantalum and niobium—rare metals that play a crucial role in high-tech industries such as electronics, renewable energy, and defense.
They also stressed the company’s possession of advanced technologies that help maximize the economic value of mineral resources while adhering strictly to environmental and social standards. The representatives voiced their aspiration to form a strategic partnership with Egypt to build a successful investment model in the mining sector.
This meeting represents a new step toward deepening cooperation between Egypt and China in the field of mineral resources and reflects the Ministry of Petroleum’s commitment to advancing its ambitious plan to develop the mining sector and attract international capital, thereby maximizing national revenues and supporting sustainable development.
