The meeting was attended by Engineer Karim Badawi, Minister of Petroleum and Mineral Resources; Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority; Alberto Calderon, CEO of AngloGold Ashanti; and Hoda Mansour, Managing Director and Vice Chairwoman of Sukari Gold Mines.
Dr. Madbouly affirmed the state's interest and keenness to support AngloGold Ashanti's investments in Egypt, noting that numerous reports confirm that Egypt likely has other reserves similar to the Sukari mine. He praised the efforts of AngloGold Ashanti to invest in the Sukari mine during the recent period, expressing his aspiration for the company to pump more investments into the Sukari mine during the coming period.
He also expressed his desire to identify any observations or obstacles that the company may face during its various activities, with the aim of quickly resolving and eliminating them. This would contribute to pumping more investments in the coming period and increasing production rates from the Sukari mine.
Calderon praised the Egyptian government's efforts and continued support for mining investors, stressing that this approach has left a positive impression on them, as evidenced by the ongoing communication between the company and the Ministry of Petroleum. He confirmed that AngloGold Ashanti intends to pump more investments into the Sukari mine during the coming period, explaining that according to precedents, it is expected that there will be other sites attractive to investments similar to the Sukari mine in Egypt. He presented basic data on the company's activities, both in Egypt and in the various countries in which the company invests, emphasizing that Egypt is a priority country for the company's investments.
Engineer Karim Badawi praised the company's efforts to invest in the Sukari mine, affirming the ministry's support for the company and its investments.
The Prime Minister directed the need to facilitate various procedures related to the company's operations, including the rapid issuance of visas and residency permits for its foreign workers.
Madbouly and his entourage reviewed the control and monitoring system at the Sukari mine by inspecting the dedicated control room. He viewed the site's surveillance cameras and listened to an explanation of the site's high level of security. He began an extensive field tour of inside the Sukari mine to observe the stages of gold ore production. He learned about these stages, which include classifying the ore extracted from the mountain according to the percentage of gold per ton, followed by the crushing and grinding stages. The next stage is the separation of the concentrated ore, followed by regrinding. The gold is then processed with cyanide to separate it from other elements.
The Prime Minister's tour included an inspection of the open-pit mine
and a follow-up visit to the gold extraction plant. The Prime Minister was
briefed on the progress of work at the Sukari gold mine, which has proven
reserves of approximately 6.2 million ounces and is considered one of the most
important mines due to the mining methods used, which have contributed to
increasing reserves and production. Development work is currently underway by
the new investor, AngloGold Ashanti, to confirm approximately 4.3 million
additional ounces of the mine's reserves, enhancing its value. The mine's
production in 2024 reached approximately 454,000 ounces.
It was noted that the investor will cover all investments to achieve the production plan, which also supports the provision of job opportunities and services related to mining activity, providing 4,000 direct and indirect job opportunities.