Historic Leap: Mineral Resources Revenues Double by 144% in Just One Year
Egypt’s mineral resources sector witnessed a remarkable transformation during the fiscal year 2023/2024, described by experts as a“golden year.”
A Golden Year for Mineral Resources
The Egyptian Mineral Resources Authority (EMRA) and related mining industries achieved unprecedented revenues of EGP 6.75 billion, compared to only EGP 2.76 billion in the previous year — a growth rate of 144.6%.
This surge was not merely a financial figure, but the outcome of a comprehensive reform path: restructuring the authority into a more flexible economic entity, accelerating digital transformation through the Egypt Mining Portal, and expanding the industry’s scope from exploration to processing, manufacturing, and exports.
Together, these reforms enhanced the sector’s contribution to GDP while reducing import dependency.
The Numbers Tell the Story
Revenue Leap:EGP 6.75 billion vs. 2.76 billion, reflecting streamlined contracts, digitized services, and expanded projects.
GDP Contribution: Extractive industries represented 7.7% of GDP at current prices, confirming the sector’s role alongside oil and gas.
Energy Sector Breakdown: Petroleum 50.7%, natural gas 29.2%, and mining & related industries 20.1% — a share set to rise with deeper manufacturing integration.
Mining Activity Value: Reached EGP 205.5 billion, up from 135.1 billion (+52.11%), the highest in a decade.
Industrial Output: Surged in Q4 of 2024 to EGP 570.3 billion, reflecting higher industrial demand for mining inputs.
Companies and Mines: Rising Efficiency, Expanding Markets
Metallurgical Holding Company: Revenues of EGP 47.6 billion (+42.1%), net profit of EGP 13 billion (+80%), and exports of EGP 21.5 billion (+52%).
Operating Mines: Increased from 355 to 367 (+3.38%), reflecting improved investment climate and updated resource mapping.
Precious Metals Exports: Valued at \$3.262 billion(+75.4%), strengthening Egypt’s position in global high-value mineral supply chains.
Iron and Copper Balance: A Gap and an Opportunity
Exports:Iron \$2.209 billion, copper \$1.041 billion (+49.7%).
Imports: Iron \$5.179 billion, copper \$2.308 billion (+35.6%).
This imbalance highlights opportunities to expand local downstream industries, close the gap, and move toward self-sufficiency.
Gold Leads the Way: Sukari Mine as a Model
Gold remains the sector’s crown jewel. Egypt produced 559,000 ounces in 2023/2024, led by the Sukari mine in Marsa Alam — a flagship example of successful partnership between the state and global private sector. The country aims to raise gold output to 800,000 ounces by 2030.
Meanwhile, production of other mineral ores surpassed 17 million tons in the same year, with a target of30 million tons by 2030, supported by new investments in processing, refining, and mid- to downstream industries.
A Sector in Transformation
The data reveals a sector undergoing structural transformation — no longer limited to raw extraction, but advancing toward an integrated system of production, processing, and export.
With ambitious targets set for 2030, continued reforms and sustained investment will be critical.
The current indicators leave little doubt: Egypt is entering a new era in the mining industry
