Egypt Targets to Produce 800,000 Ounces of Gold by 2030

Karim Badawi, Minister of Petroleum and Mineral Resources, stated that Egypt's gold production during the fiscal year (2023-2024) reached 559,000 ounces, with a target of producing 800,000 ounces by 2030.

The minister indicated that the production volume of mineral raw materials exceeded 17 million tons, with a target to increase it to 30 million tons by 2030.

In a statement before the parliamentary committee responsible for reviewing and discussing the new government program, he explained that several key areas will be focused on, including transforming the Mineral Resources Authority from a service-based to an economic entity to attract specialized expertise, and regularly offering tenders for gold and mineral exploration and exploitation.

He noted that efforts will be intensified to confirm reserves of various mineral raw materials, launch a digital transformation project and an investment digital platform for gold and minerals, and prepare an aerial survey program in Egypt to create a map of mineral-containing areas.

 Additionally, there will be promotion of investment opportunities in the Egyptian mining sector at international forums, foremost among them the Egypt Mining Forum.