KEY POINTS
- Egypt’s petroleum minister promised a more attractive investment climate to draw global mining companies.
- Tanzania plans to survey all of its territory by 2030 and process more minerals at home instead of exporting them raw.
- AngloGold Ashanti Egypt said recent changes to the mining law have boosted investor confidence.
Egypt wants a bigger share of global mining investment, and its petroleum minister says the government is working to make the country an easier place for mining companies to do business.
Karim Badawi, Egypt’s minister of petroleum and mineral resources, made the pledge at a roundtable of ministers and industry executives held ahead of the fifth Egypt Mining Forum, according to a ministry statement reported by Arab Finance.
Badawi said the government is encouraging global, regional and local companies to invest more in Egypt. He called for closer cooperation between governments and investors, clear national rules and wider use of international expertise to develop the country’s mineral resources.
He also said Egypt wants major industry players involved at every stage of a project, from exploration and production through long-term development. The effort is part of a broader plan to make mining a bigger part of Egypt’s economy. Badawi has said the sector is aiming to contribute 6% of gross domestic product.
African nations look beyond raw exports
Other African officials at the meeting described their own plans. Anthony Mavunde, Tanzania’s minister of minerals, said his country wants to move away from exporting raw minerals and build integrated value chains that include processing and refining.
Tanzania plans to expand high-resolution geological and geophysical surveys from 16% of its territory to all of it by 2030, Mavunde said. That should reduce exploration risk for critical minerals such as nickel, graphite and rare earth elements, which are in high demand for batteries and clean energy technology.
Hassan Joho, Kenya’s cabinet secretary for mining, blue economy and maritime affairs, urged African countries to coordinate their mining policies and carry them out together so the continent gets more value from its resources.
Moses Engadu, secretary-general of the Africa Minerals Strategy Group, said finding minerals is only the first step. Successful projects also depend on geological data, infrastructure, governance, energy, technology and financing, he said.
Egypt mining law changes lift confidence
Industry representatives made some of the same points. Hoda Mansour, head of AngloGold Ashanti Egypt, said recent changes to Egypt’s mining law have helped build investor confidence. The company operates the Sukari gold mine, Egypt’s largest. Mansour also called for wider access to geological data, which she said would make it easier for smaller mining companies to enter the market.
The roundtable also discussed deep-sea mining under the African Union’s Agenda 2063 framework and ways to support artisanal miners with technical, financial and institutional help.
