On April 11, 2025, Egypt's Minister of Petroleum and Mineral Resources, Karim Badawi, engaged in a significant meeting with a delegation from Barik Gold Company. The delegation included notable figures such as Henry Awonslo, the Exploration Director, and Nadia Sant Gin, the General Operations Manager. The meeting took place at the Ministry's headquarters in the new administrative capital, underscoring the Egyptian government’s commitment to bolstering its mining sector.
During the session, Badawi outlined the ministry's strategic efforts aimed at enhancing the contribution of the mining sector to the nation's gross domestic product (GDP). Currently, this contribution stands at a modest 1%, but the ministry's goal is to elevate it to between 5% and 6%. This ambitious target reflects a broader initiative to revitalize Egypt's mineral resources sector, which has been identified as a key area for economic growth.
To achieve this objective, Badawi highlighted the collaborative efforts between the Ministry of Petroleum, the Ministry of Finance, and the Ministry of Environment. These partnerships are focused on streamlining procedures and improving the legal framework governing the mining industry. He emphasized that such coordinated efforts are essential for making the mining sector more appealing to foreign investors, a sentiment echoed by the delegation from Barik Gold.
"We are working in a coordinated manner to achieve these desired goals," Badawi stated, indicating a unified approach among the ministries involved.
Furthermore, Badawi underscored the importance of ongoing cooperation with Barik Gold to identify key areas for investment in mining. He noted that the Ministry of Environment had already approved several selected areas for exploration, demonstrating the government’s agility in facilitating investment opportunities. This responsiveness is crucial in encouraging foreign investors to commit to new ventures in Egypt's mining landscape.
The Barik Gold delegation expressed their commitment to strengthening ties with the Egyptian government and the Egyptian General Authority for Mineral Resources. They recognized the importance of a transparent and supportive legal environment for exploration and mining activities. The delegation pointed out that such collaboration is vital for pinpointing promising areas for development and ensuring that the legal and regulatory frameworks are conducive to attracting foreign companies.
"Our main goal in Egypt is to explore mining areas with high potential that could lead to significant and profitable discoveries," the Barik Gold representatives remarked, emphasizing their strategic focus on identifying lucrative mining opportunities within the country.
In addition to discussing investment strategies, the meeting also touched upon the need for updated geophysical surveys. Badawi noted that the last aerial survey conducted in Egypt was back in 1984, suggesting that modern techniques and updated data are necessary for informed decision-making in the mining sector. He stated, "There are many different types of aerial surveys that can be utilized to enhance our understanding of mineral deposits."
This meeting comes at a time when Egypt is keen to enhance its attractiveness as a destination for mining investments. The government has adopted an open policy to support private sector engagement and foreign companies, particularly in the mining industry. Badawi reiterated that Egypt possesses all the necessary elements for achieving successful partnerships in this sector, from abundant natural resources to ongoing governmental support.
In closing the meeting, Badawi extended an invitation to Mark Bristow, the CEO of Barik Gold, to attend the upcoming Egypt Mining Forum (EMF), scheduled for July. This forum is expected to serve as a platform for discussing further investment opportunities and collaborations in Egypt's mining sector.
The dialogue between Barik Gold and the Egyptian government illustrates a promising future for the mining industry in Egypt, with both parties eager to explore the vast potential that the country holds. With the right strategies and partnerships in place, Egypt aims to transform its mining sector into a significant contributor to its economy, fostering growth and development in the years to come.
