He stated that the announcement came during his address at a
large scale meeting titled Explore in Egypt, which brought together more than
thirty Australian companies and institutions interested in investing in the
mining sector.
He explained that the new reforms and incentives include
reducing annual fees, which makes early exploration phases more viable and
significantly lowers initial costs. He added that the measures also include tax
and customs exemptions for exploration equipment, supplies, and related
services, easing the financial burden on early stage investments. He noted that
the reforms introduce greater flexibility by allowing multiple mineral types to
be licensed under a single operating licence, reflecting the geological nature
of multi mineral regions and saving time, funding, and procedures. He added
that new reconnaissance licences have been introduced as a fast and low cost
option suited to start ups, enabling them to quickly assess available potential
before committing to wider exploration programs.
Badawi affirmed that these reforms and incentives will make
Egypt’s mining investment climate more modern, flexible, and aligned with
investor expectations. He added that Egypt is preparing to launch a
comprehensive aerial survey covering various regions to identify promising
mining zones and locate deposits of critical minerals needed for renewable
energy. He said that these efforts aim to reduce investment risks and enhance
feasibility, reflecting Egypt’s determination to become a major player in the
mining industry.
He stated that the financial terms and conditions governing
the mining sector in Egypt are transparent, competitive, and stable. He added
that the sector operates under a modern model for mining exploitation
agreements developed through investor consultations and aligned with best
practices and international standards. He explained that licensing and approval
procedures have been streamlined, investor support has been strengthened, and
the issuing authority has been unified through the Mineral Resources and Mining
Industries Authority (MRMIA), eliminating the need for approvals from multiple
bodies and supporting company timelines.
He indicated that Egypt is close to launching a digital
mining portal that will provide investors with access to geological data and
detailed information on licences and areas available for investment. He added
that Egypt has embarked on an extensive development and reform program for the
mining sector that includes legislative amendments, updated investment models,
and enhanced competitiveness. He said that the program aims to increase the
contribution of mining to the Gross Domestic Product (GDP) to between five and
six percent over the next decade while adhering to global mining standards,
reducing investment risks, and facilitating exploration activities.