Egypt has unveiled sweeping reforms to revitalise its mining sector, aiming to transform it into a major economic driver and significantly raise its contribution to the country’s GDP. Petroleum and Mineral Resources Minister Karim Badawy announced on Monday that the Mineral Resources Authority will be restructured into an independent body, the Mineral Resources and Mining Industries Authority, operating on a commercial basis to attract foreign investment.
Speaking before parliament, Badawy described the overhaul as a pivotal step in harnessing Egypt’s vast but underutilised mineral reserves. The government hopes to boost mining’s share of GDP from its current 0.5 per cent to 6 per cent by 2030. “This marks a real beginning to fully leverage Egypt’s vast mineral potential,” the minister said, calling the initiative a milestone in the country’s economic transformation.
The reform package includes amendments to the existing 2014 Mineral Resources Law and the introduction of a new investment framework aimed at simplifying licensing procedures, enhancing transparency, and aligning Egypt’s regulations with global mining standards. In tandem, the government plans to develop a comprehensive geological database, ramp up mineral exploration auctions, and foster domestic mining-related industries to increase value-added production.
Egypt is known to possess considerable deposits of gold, phosphates, and other valuable minerals. However, the sector has remained largely underdeveloped, hampered by outdated regulations and limited investment. Minister Badawy emphasised that the new approach would be supported by infrastructure development, investment incentives, and a drive to make Egypt a regional mining hub.
This reform aligns with Egypt’s Vision 2030 strategy, which seeks to reduce dependence on traditional economic pillars such as oil and tourism. The minister assured lawmakers and potential investors of the government’s commitment to overcoming bureaucratic obstacles and fostering sustainable growth.
“The next three years will be crucial,” Badawy concluded. “We have a clear roadmap and the political will to make mining a key pillar of Egypt’s economic future.”
