Egypt boosts sector with new mining law

The Egyptian Parliament has announced the approval of a new law amending the Mineral Resources Law No. 198 of 2014. This regulation aims to enhance the economic contribution of the mining sector and create a more attractive environment for investors. According to the law, the Egyptian Mineral Resources Authority will be restructured into an economically autonomous body, enabling it to operate more efficiently and independently. This centralization is expected to streamline sector management and accelerate investment processes.

Targeting a twelvefold increase in GDP contribution

Minister of Petroleum and Mineral Resources, Karim Badawi, stated that the new law aims to raise the mining sector’s contribution to the Gross Domestic Product from 0.5% to 6%. He emphasized that, in line with Egypt’s Vision 2030, international consultancy firms are being engaged to achieve this goal, alongside a plan to attract $1 billion in direct foreign investment. The new legislation is said to offer an investment framework centered on transparency, sustainability, and modern technology.

A digital mining portal for investors

One of the key components of the law is the creation of a digital platform that provides easy access to mining opportunities. The Ministry announced that the technical infrastructure for this portal has been completed, offering mineral maps and databases for 27 different resources, including iron and gold. This platform will serve not only as a promotional tool for international investors but also as a means to digitally track mining license applications.

Significant growth in employment and exports expected

With the new regulation, mining exports are expected to increase from $1.6 billion to $5.2 billion, and the sector is projected to create 150,000 direct and indirect jobs. The law also aims to simplify licensing processes, promote industry projects based on domestic raw materials, and enhance environmental safety standards. Through this comprehensive reform, Egypt intends to become a regional mining hub.