During the meeting, the minister highlighted the important
role of major Egyptian investors in supporting the national economy. He noted
that the presence of prominent businessmen such as Naguib Sawiris in the
mineral resources sector reflects growing confidence in Egypt’s investment climate,
especially given the country’s promising mineral wealth, most notably gold.
Badawi reviewed the reform measures adopted by the Ministry
of Petroleum and Mineral Resources to modernize the legislative and regulatory
framework of the mining sector. He referred to the transformation of the
Mineral Resources Authority into an independent economic body under the name
“Mineral Resources and Mining Industries Authority.”
He explained that this step aims to enhance the authority’s
efficiency, empower it to implement development strategies, and facilitate
investment attraction more effectively than before. The new authority will also
carry out comprehensive aerial surveys to identify mineral deposits and analyze
geological data, forming a strong foundation for attracting local and
international investments. These efforts will give investors a clearer
understanding of promising areas and support better decision-making in
exploration and drilling projects.
For his part, Sawiris praised the ministry’s reform steps to
develop the mining sector, noting that the aerial survey and the use of
accurate geological data represent a major shift in how Egypt manages its
natural resources. He emphasized that Egypt holds vast potential in gold
exploration and that the ongoing reforms will create a more attractive and
competitive investment environment for both local and foreign investors.
The meeting was attended by Yasser Ramadan, Head of the
Mineral Resources and Mining Industries Authority; Dr. Mohamed El-Bagoury,
Supervisor of the Ministry’s Central Administration for Legal Affairs; and
Engineer Ahmed Khairy, Head of Business Development and Strategy at In2Metals
Holding for Mining.