Minister of Petroleum Discusses New Gold Mining Investments with AngloGold Ashanti

Minister of Petroleum and Mineral Resources, Karim Badawi, discussed with Hoda Mansour, Vice Chairperson of Sukari Gold Mining Company—a subsidiary of AngloGold Ashanti—opportunities to inject additional investments into gold mining activities in Egypt.

This development follows AngloGold Ashanti, the operator of the Sukari Gold Mine, previously securing two additional licenses for gold exploration and exploitation in the Eastern Desert, alongside its current operations and ambitious plans to develop the Sukari mine.

During the meeting, held on the sidelines of the Egyptian-British mining business mission's visit to London, Badawi affirmed the Ministry's readiness to provide full support to AngloGold's efforts. This includes support for enhancing gold productivity from the Sukari mine and measures to accelerate gold exploration activities in its new operating areas, in accordance with the modernized agreement model for gold and mineral exploitation.

The discussions with the Sukari mine operator also touched upon cooperation opportunities in training and human capacity building. Both sides discussed studying a partnership to develop training and qualification programs for Egyptian cadres, including geologists and mining engineers, across AngloGold Ashanti’s various global sites.

The two new licenses for AngloGold represent a prime opportunity for large-scale exploration and prospecting, covering over 2,200 square kilometers in virgin areas within the gold- and mineral-rich Arabian-Nubian Shield that have not witnessed exploration activity before.