Egypt's Minister of Petroleum and Mineral Resources Karim Badawi announced the resumption of development activities at the Zohr gas field, which will include drilling two developmental wells during January. The minister also revealed plans to launch the Mineral Resources Portal and offer several mining areas for investment in 2025, aiming to attract more investments to these sectors and create added value to support the national economy. In his address at the Senate General Assembly, Badawi responded to two requests for discussion by several members of the Senate. These discussions focused on the government's strategy for utilizing and developing mineral resources to add value to Egypt's economy, and the ministry's efforts to transform the Egyptian Mineral Resources Authority from a service entity into an economic one. Badawi outlined that the ministry's team has developed a strategy building on previous achievements while meeting current needs. The strategy focuses on six key areas to ensure the supply of petroleum products to citizens at the lowest cost. These include increasing production and intensifying drilling and exploration programs, optimizing refining and petrochemical infrastructure, and achieving a qualitative shift in the mining sector to boost its GDP contribution. The strategy also outlines plans to restructure Egypt's energy mix in collaboration with the Ministry of Electricity and Renewable Energy, aiming to raise the share of renewable energy to 42% by 2030. This shift will facilitate the use of natural gas in value-added industries and enable the export of surplus gas. Another crucial aspect of the strategy emphasizes health, safety, environmental sustainability, and energy efficiency, aiming to foster a safe work environment that attracts investments and bolsters sustainability projects, including carbon emissions reduction. Moreover, Egypt plans to leverage its strategic location to enhance regional cooperation and maximize infrastructure usage. This includes forming partnerships with neighboring countries to benefit from new discoveries and utilizing Egypt's infrastructure for the importation and re-exportation of Cypriot gas, or for domestic needs, ultimately supporting value-added industries such as petrochemicals. The strategy calls for intensive collaboration between the ministry, government institutions, parliamentary councils (House of Representatives and Senate), and investment partners in the production sector. Badawi also discussed the ongoing strategy to accelerate investments in the mining sector and maximize the added value of mining ores through legislative and legal reforms. These reforms aim to update contract models to align with global mining standards, regulate financial systems, licensing, and organizational structures, and transform the Mineral Resources Authority into an economic entity. Additionally, the strategy emphasizes enhancing digital infrastructure by launching a digital mining portal and building administrative and technical capacities through specialized training programs. Egypt is rich in mineral resources, with confirmed geological reserves of minerals that can be extracted using advanced technologies. Badawi highlighted key ores in the North and South Eastern Desert and the Sinai Peninsula, including phosphate, iron, lead, zinc, sulfur, kaolin, and coal. He also noted that 150 companies are active in Egypt's mining sector, including eight global firms involved in gold exploration and extraction. Furthermore, a preliminary framework agreement has been signed allowing investment in gold exploration, and a draft law has been proposed to revise mining agreements, especially in exploration and prospecting, to make them more attractive to investors. At the conclusion of his speech, Badawi outlined the main components of the 2025 work plan, including increasing production rates, intensifying research and exploration programs, optimizing refining and petrochemical resources, expanding natural gas usage for households and vehicles, reducing the petroleum product import bill, and launching the digital mining portal to attract more investments into the sector.
