Karim Badawi, Minister of Petroleum and Mineral Sources, met with senior executives from Canada’s Barrick Gold and Lotus Gold, in addition to Australia’s BHP, on the sidelines of the Future Minerals Discussion board, to debate upcoming gold and mineral exploration packages, joint funding alternatives, and methods to leverage Egypt’s mining reforms to draw long-term worldwide funding.
Badawi reviewed with Mark Hill, Chief Government Officer (CEO) of Barrick Gold, the corporate’s near-term operational roadmap, together with the launch of latest gold exploration campaigns in further Japanese Desert blocks as soon as the regulatory procedures are finalized. The corporate performed geological survey throughout a number of Egyptian prospects in 2025, aimed toward increasing its upstream funding portfolio within the nation.
Either side underscored the significance of Egypt’s newly accredited aggressive contractual mannequin for gold and mineral exploitation, which is designed to boost fiscal phrases, enhance funding sentiment, and create a extra engaging working setting for worldwide mining operators. The framework is anticipated to facilitate elevated capital inflows into Barrick’s licensed acreage in Egypt.
Badawi stated that the ministry’s technique is concentrated on positioning Egypt as a regional hub for international mining funding, noting that the partnership with Barrick represents a cornerstone in advancing this goal and strengthening Egypt’s competitiveness within the minerals sector.
For his half, Hill confirmed Barrick’s dedication to strict venture timelines to ship tangible exploration outcomes, praising Egypt’s ongoing legislative modernization and regulatory reforms, which he stated help the corporate’s enlargement plans and operational ramp-up within the Egyptian market.
Egypt signed offers in 2025 with main gold mining firms for the exploration of gold and related minerals, together with a framework settlement with Barrick Gold.
The Minister additionally met with Mike Silver, CEO of the Canadian Lotus Gold Company, and Omar Nasser, the corporate’s Managing Director, to assessment the corporate’s actions in Egypt and its future enlargement plans within the Egyptian mining sector.
Lotus Gold officers reaffirmed their sturdy dedication to lengthy‑time period funding in Egypt and welcomed the just lately introduced bundle of reforms and incentives, noting that these measures improve the competitiveness and attractiveness of Egypt’s funding local weather for mining firms. Lotus Gold is a non-public Canadian gold exploration and improvement firm, targeted on the Egyptian Japanese Desert. its pursuits embody 10 blocks and a number one in-country land bundle of 1,740 sq km inside the extremely potential Arabian-Nubian Defend.
The Minister additionally met with Tim O’Connor, Group Exploration Officer at BHP, Australia’s big multinational firm, to discover cooperation alternatives in mineral exploration in Egypt. Through the assembly, he highlighted Egypt’s huge mineral wealth, which provides promising alternatives for the corporate, together with iron ore, copper, gold, and potash, in addition to important minerals that help the power transition.
