Madbouly Pledges to Remove Obstacles Facing AngloGold Ashanti’s Investments in Egypt

Upon his arrival in Johannesburg to lead Egypt’s delegation to the 2025 G20 Summit, on behalf of President Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly began his programme of meetings with a high-level discussion with officials from South Africa’s AngloGold Ashanti, the company investing in Egypt’s Sukari gold mine, one of the most prominent mining projects in Egypt and the wider region.

Madbouly Pledges to Remove Obstacles Facing AngloGold Ashanti’s Investments

The meeting was attended by Mr. Stuart Bailey, Chief Sustainability and Institutional Affairs Officer at AngloGold Ashanti, and Eng. Hoda Mansour, Managing Director and Vice Chairperson of Sukari Gold Mines Company.

Also present were Ambassador Badr Abdelatty, Minister of Foreign Affairs, Immigration and Affairs of Egyptians Abroad, and Ambassador Ahmed Ali Sherif, Egypt’s Ambassador to South Africa, underscoring the importance the Egyptian state attaches to investment in the mining sector in general, and Sukari gold in particular.

During the talks, the Prime Minister expressed his appreciation for the strategic partnership between Egypt and AngloGold Ashanti, which plays a key role in operating and developing the Sukari mine.

He stressed the government’s keenness to closely follow the size and nature of the company’s investments in Egypt, and to support and strengthen them in the coming period.

Madbouly also referred to his previous visit to the Sukari mine and his first-hand view of operations and production, noting that he is closely following developments on the ground and the expansion plans currently under way.

For his part, Mr. Stuart Bailey voiced the company’s appreciation for the attention and support shown by the Egyptian government to AngloGold Ashanti’s investments in Egypt, and for the clear official encouragement to continue expanding in the Egyptian market.

He affirmed the company’s aspiration to carry out further exploration activities and increase its investments in gold mining in Egypt over the coming period, in light of the ongoing improvements to the investment climate and the promising opportunities that Egypt’s geology offers in this field.

Bailey also congratulated the Prime Minister on the opening of the Grand Egyptian Museum, describing it as a testament to the great efforts made by the state to preserve its cultural heritage and promote it globally.

He revealed the company’s intention to sponsor and help promote this major cultural landmark.

The meeting included extensive discussions on ways to further strengthen AngloGold Ashanti’s investments in Egypt and the concrete steps needed to remove any obstacles that may face its operations in the mining sector, in order to ensure a stable and attractive business environment for additional foreign investment in this field.

In this context, Dr. Mostafa Madbouly reiterated the government’s determination to respond swiftly to any challenges that may arise, particularly in light of Egypt’s clear strategy to expand gold mining activities and maximise the added value of its mineral resources.

The Prime Minister also announced his readiness to receive a delegation from the company in Cairo in the coming period, to continue consultations, explore mechanisms for broadening cooperation, and ensure that any remaining hurdles to AngloGold Ashanti’s investments in Egypt are fully addressed.

For her part, Eng. Hoda Mansour, Managing Director and Vice Chairperson of Sukari Gold Mines Company, affirmed the strength of the ongoing cooperation between the company and Egypt’s Ministry of Petroleum and Mineral Resources.

She stressed that there is continuous coordination to support the company’s investments, expressing her hope for further measures that would guarantee the continued removal of obstacles and reinforce the Sukari mine’s position as one of the main pillars of Egypt’s gold industry.