Dr. Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, met with senior executives from Canada’s Barrick Gold and Lotus Gold, as well as Australia’s BHP, on the sidelines of the Future Minerals Forum to discuss upcoming gold and mineral exploration programs, joint investment opportunities, and ways to leverage Egypt’s mining reforms to attract long-term international investment.
During the meeting with Mark Hill, CEO of Barrick Gold, Badawi reviewed the company’s near-term operational roadmap, including the launch of new gold exploration campaigns in additional Eastern Desert blocks once regulatory procedures are finalized. In 2025, the company conducted comprehensive geological surveys across several potential Egyptian sites, aiming to expand its upstream investment portfolio in the country.
Both sides emphasized the importance of Egypt’s newly approved competitive contractual model for gold and mineral exploitation, which is designed to improve fiscal terms, boost investor confidence, and create a more attractive operating environment for international mining companies. This framework is expected to facilitate increased capital inflows into Barrick’s licensed acreage in Egypt.
The Minister noted that the ministry’s strategy focuses on positioning Egypt as a regional hub for global mining investment, highlighting that the partnership with Barrick represents a cornerstone in achieving this goal and enhancing Egypt’s competitiveness in the minerals sector.
For his part, Hill confirmed Barrick’s commitment to project timelines to deliver tangible exploration results, praising Egypt’s efforts in legislative modernization and regulatory reform, which support the company’s expansion plans and operational ramp-up in the Egyptian market.
In 2025, Egypt signed several agreements with major gold mining companies for the exploration of gold and associated minerals, including a framework agreement with Barrick Gold.
The Minister also met with Mike Silver, CEO of Canada’s Lotus Gold, and Omar Nasser, the company’s Managing Director, to review the company’s activities in Egypt and its future expansion plans in the Egyptian mining sector.
Lotus Gold officials reaffirmed their strong commitment to long-term investment in Egypt, welcoming the recently announced package of reforms and incentives, noting that these measures enhance the competitiveness and attractiveness of Egypt’s investment climate for mining companies. Lotus Gold is a private Canadian gold exploration and development company focused on the Egyptian Eastern Desert, with interests in 10 blocks and a leading in-country land package of 1,740 sq km within the highly prospective Arabian-Nubian Shield.
The Minister also met with Tim O’Connor, Group Exploration Officer at BHP, Australia’s multinational mining giant, to explore cooperation opportunities in mineral exploration in Egypt. During the meeting, he highlighted Egypt’s vast mineral wealth, offering promising opportunities for the company, including iron ore, copper, gold, potash, and critical minerals that support the energy transition.
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