Minister of Petroleum and Mineral Resources, Karim Badawi, announced the resumption of development activities in the Zohr Gas Field, along with the drilling of two new development wells set to begin this month. Speaking during a general session of the Egyptian Senate, the minister also unveiled plans to launch the Mineral Resources Digital Portal and open new mining areas for investment in 2025, aiming to attract substantial investments to Egypt's energy and mining sectors and bolster their role in the national economy.
Badawi emphasized the ministry’s comprehensive strategy, which focuses on addressing current challenges while building on past achievements.
This strategy is built around six key pillars: ensuring affordable access to petroleum products for citizens, increasing production, intensifying exploration activities, maximizing infrastructure in refining and petrochemical industries, enhancing the contribution of the mineral resources sector to GDP, and restructuring the country’s energy mix to include 42 percent renewable energy by 2030, in collaboration with the Ministry of Electricity and Renewable Energy.
Highlighting Egypt's wealth of mining resources, Badawi pointed to significant geological reserves of minerals and raw materials. Key mining areas include the northern and southern regions, the Eastern Desert, and the Sinai Peninsula, which are abundant in phosphate, iron, lead, zinc, sulfur, kaolin, and coal.
He noted that 150 mining companies are currently operating in Egypt, including eight international firms specializing in gold exploration and exploitation.
The minister announced the initial signing of a framework agreement with Barrick Gold Corporation, granting the company concessions for gold mining in Egypt.
Furthermore, a draft law to modernize mining agreements has been signed, focusing on making exploration and research activities more appealing to investors.
Outlining the ministry’s 2025 action plan, Badawi highlighted priorities such as boosting production, expanding exploration and research programs, optimizing refining and petrochemical capacities, and increasing the use of natural gas in homes and vehicles to reduce costs for citizens.
The plan also aims to lower Egypt’s import bill for petroleum products and launch a digital mining portal to attract additional investments in this vital sector.
These initiatives reaffirm Egypt’s commitment to advancing its energy and mining industries, fostering economic growth, and strengthening its position as a regional leader in energy and mineral resources.
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