By: Sis.gov.eg

Minister of Petroleum and Mineral Resources, Karim Badawi, announced the resumption of development activities in the Zohr Gas Field, in addition to drilling of two new development wells this month, during a general session of the Egyptian Senate.

 Additionally, he revealed plans to launch the Mineral Resources Digital Portal and offer new mining areas for investment in 2025. These initiatives aim to attract significant investments to the energy and mining sectors, boosting their contribution to the national economy.

 Minister Badawi emphasized that the ministry has developed a comprehensive strategy to build upon past achievements while addressing the current phase's requirements.

This strategy includes six key pillars: meeting citizens’ needs for petroleum products at minimal costs, increasing production, intensifying exploration programs, leveraging infrastructure in refining and petrochemicals, advancing the mineral resources sector’s contribution to GDP, and restructuring Egypt’s energy mix in collaboration with the Ministry of Electricity and Renewable Energy to increase renewable energy's share to 42 percent by 2030.

Badawi highlighted Egypt’s abundant mining resources, pointing to significant geological reserves of extractable minerals and raw materials. Key mining areas include the northern and southern regions, the Eastern Desert, and the Sinai Peninsula, which are rich in phosphate, iron, lead, zinc, sulfur, kaolin, and coal.

He noted that 150 mining companies currently operate in Egypt, including eight international firms specializing in gold exploration and exploitation.

The minister also announced the initial signing of a framework agreement with Barrick Gold Corporation, granting the company concessions for gold mining in Egypt.

 Additionally, a preliminary agreement on a draft law to modernize mining agreements was signed, focusing on exploration and research to make the sector more attractive to investors.

In outlining the ministry’s 2025 action plan, Minister Badawi detailed several priorities, including increasing production, intensifying exploration and research programs, optimizing refining and petrochemical capacities, and expanding the use of natural gas in homes and vehicles to reduce costs for citizens.

 The plan also seeks to lower Egypt’s import bill for petroleum products and launch a digital mining portal to attract further investments in this vital sector.

These initiatives underscore Egypt’s commitment to advancing its energy and mining industries, fostering economic growth, and positioning the country as a regional leader in energy and mineral resources.