Egypt plans to increase mining sector’s contribution to the national economy, aiming to raise its share of GDP to around 6 per cent, up from less than 1 per cent currently, Minister of Petroleum and Mineral Resources Kareem Badawi announced during a high-level international forum in Istanbul on Tuesday.
Badawi was speaking as Egypt’s representative and keynote speaker at the opening of the OECD Critical Minerals Forum in Istanbul, which brought together senior ministers, international organisations and industry leaders.
The event was attended by OECD Secretary-General Mathias Cormann and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar.
Badawi presented Egypt’s vision to unlock the potential of its mining sector, stressing that the government places mining at the heart of its economic priorities, given its significant untapped value and development opportunities.
Egypt is preparing to launch a nationwide geophysical aerial survey of mineral resources in June, the first of its kind since 1984. In the respect, Badawi said the availability of accurate geological data would form a cornerstone for assessing mineral potential, improving investment opportunities, and accelerating investor decision-making.
The minister highlighted Egypt’s strong comparative advantages in mining development, including its mineral-rich geology, promising extensions of mineral formations with neighbouring countries, and a unique infrastructure base capable of converting mineral potential into real economic value through transport, exports, and the localisation of mineral-based industries.
He also underlined the importance of energy availability, noting Egypt’s expansion of renewable energy as part of its plan to increase the share of renewables in the electricity mix by 2028, two years ahead of the previously set 2030 target.
Badawi said Egypt is working to create a more stable and attractive investment environment in the mining sector through updated legislative and contractual frameworks aligned with global best practices.
