Egypt has witnessed a remarkable 131 percent increase in its mining revenues during the 2024/2025 fiscal year, reaching nearly $446 million.
This impressive surge was announced by Minister of Petroleum and Mineral Resources, Karim Badawi, at the Egypt Mining Forum in Cairo.
The significant boost in mining income is primarily attributed to robust global demand for gold and silver, which has directly fueled a rise in domestic production. The gold sector alone saw a 14 percent increase, producing 640,000 ounces and generating revenues of $1.54 billion. Overall, ore production across the country climbed by 39 percent, totaling 26 million tonnes.
This strong performance aligns perfectly with Egypt’s Vision 2030 economic diversification strategy, which identifies mining as a key driver for growth. In support of this vision, the government has implemented substantial reforms, including a new mining law designed to attract foreign investors, alongside strategic investments in exploration, geological mapping, and workforce training.
Currently concentrated largely in the Eastern Desert, particularly around the Sukari site, Egypt’s mining activities are now geared towards positioning the nation as a prominent regional and global mining hub. The recent Cairo Mining Forum further confirmed a heightened interest from investors in exploring Egypt’s untapped subsurface potential.
MK/te/fss/abj/APA