Prime Minister Mostafa Madbouly visited Sukari Gold Mine, emphasizing the development of Egypt’s mining sector. Key meetings were held with AngloGold Ashanti executives, discussing future expansions and investments. The government is reforming frameworks to foster growth, with a focus on clean energy initiatives. Investments are expected to increase along with a stronger partnership model in mining.
In a significant move to bolster Egypt’s mining sector, Prime Minister Mostafa Madbouly visited the Sukari Gold Mine in Marsa Alam. During his visit, he was accompanied by Minister of Petroleum and Mineral Resources Karim Badawi, executives from AngloGold Ashanti, geological experts, and members of parliament. The primary purpose was to review current operations and explore future expansion and investment opportunities in the mining industry.
Prime Minister Madbouly detailed the government’s integrated approach in collaborating with the parliament to reform and develop the mining sector. He emphasized that modernization of legislative, financial, and investment frameworks is crucial and must align with global standards. This initiative aims to enhance the sector’s contributions to Egypt’s GDP significantly.
The Prime Minister also highlighted that various agreements have already been secured with prominent international firms aimed at refining gold and mineral exploitation models. These agreements further pave the way for substantial investments, fostering an environment ready for growth and increased economic impact.
During the inspection, Madbouly toured the underground operations and examined the solar power facility at Sukari Gold Mine. This solar station, with a capacity of 36 Megawatts, covers over 20% of the mine’s energy needs, showcasing its commitment to clean energy.
The solar station is set to reduce fuel consumption by an impressive 22 million liters annually, while also cutting down carbon emissions by approximately 60,000 tons. Plans are already in motion to enhance the station’s capacity to 45 Megawatts and to link it with the national grid.
Alberto Calderon, CEO of AngloGold Ashanti, revealed that the company intends to inject more funds into Sukari Gold Mine soon. He noted that based on prior successful explorations, Egypt offers considerable potential for uncovering additional high-value mining sites akin to Sukari, marking the country as a priority for investment.
In addition, Minister Badawi reaffirmed the government’s commitment to establishing a favorable investment climate for the mining sector. He underscored ongoing reforms aimed at transforming the Mineral Resources Authority into a more efficient economic entity, essential for streamlining operations and attracting foreign investments.
He further noted that Sukari Gold Mine is a flagship project for Egypt, highlighting its advanced operations and the efficiency demonstrated by the skilled Egyptian workforce. This successful model is a partnership worth valuing, combining efforts from the Egyptian Mineral Resources Authority and AngloGold Ashanti, recognized as one of the leading gold producers globally.
Overall, Prime Minister Madbouly’s inspection of the Sukari Gold Mine signifies a significant push towards developing Egypt’s mining sector. With reforms underway and new investments on the horizon, the government aims to elevate its mining industry’s global competitiveness while integrating sustainable energy solutions. The partnership with AngloGold Ashanti stands as a model for leveraging foreign investment in this vital economic sector, hinting at a promising future for mining in Egypt.
Original Source: egyptoil-gas.com
