Petroleum and Mineral Resources Minister Karim Badawi held talks with Sherine Helmy, CEO of Wealth and Resources Mining Company— the contractor operating the Iqat gold mine in Egypt’s Eastern Desert — along with senior company officials. The discussions focused on development plans and future expansions aimed at positioning the mine on the global gold production map in line with international standards.
Company representatives and the technical team reviewed progress on several projects, including ongoing studies to establish a gold-processing plant that will extract metal from ore using carbon technology, as well as plans to construct two generation stations for power and water. These initiatives will draw on advanced Australian expertise.
Badawi praised the company’s role as an Egyptian investor since 2016 and its efforts to overcome challenges, stressing that the mine is set to become a landmark on the global gold map through cooperation with the Egyptian Mineral Resources Authority (EMRA) and the broader mining industry.
The minister’s remarks came after concluding his participation at the Africa Down Under mining and energy conference, the largest African mining forum held outside the continent. This year marked Egypt’s first official participation, with a delegation led by Badawi.
Egypt’s presence at the conference sought to promote the country’s reformed investment climate in mining, attract Australian investors, and highlight updated legal frameworks, streamlined licensing, and an enhanced role for EMRA — all designed to boost Egypt’s competitiveness as a mining destination.
Throughout the event, Badawi held intensive talks with investors, including nine Australian mining companies, and participated in two main sessions on investment in Egypt. He showcased developments in the sector and the country’s promising opportunities for mineral exploration and exploitation.
At the “Invest in Egypt” roundtable, organised in cooperation with AGA and Capital Drilling and attended by top mining executives, Badawi reaffirmed Egypt’s commitment to fostering an attractive investment climate through legislative and regulatory reforms aligned with international best practices. He invited junior and mid-tier mining companies to play a role in shaping the regulatory framework, noting that they represent the largest base of the industry. He also underlined the state’s commitment to private-sector partnerships and to removing barriers for investors, reinforcing Egypt’s position as a trusted investment destination.
Yasser Ramadan, Chairperson of EMRA and Mining Industries, highlighted abundant opportunities in mineral exploration, supported by strong infrastructure, modern legislation, streamlined licensing, and state-backed incentives.
During the conference, Badawi also met with Jeff Quartermaine, Managing Director and CEO of Perseus Mining, an Australian company operating across West Africa. They discussed transferring Perseus’ expertise in advanced drilling, modern processing techniques, and data-driven mine planning to Egypt. Badawi invited the company to visit Egypt to assess potential opportunities.
Additionally, Badawi held talks with the global head of natural resources and energy at BDO, one of Australia’s largest advisory firms, to explore cooperation in feasibility studies, consultancy, and financing for energy and mining projects. The discussions also addressed attracting new investors, particularly start-ups, to Egypt’s underexplored mining areas. An agreement was reached for Sherif Andraos to visit Egypt soon with senior executives from several Australian junior and mid-tier mining companies to explore available opportunities.
Furthermore, Badawi met with Greg Rouse, Managing Director of Geodrill, a drilling company active in Egypt. Company officials commended Egypt’s mining reforms and investment climate, emphasising that the country’s natural resources and advanced infrastructure position it among Africa’s most attractive destinations for international mining investment.
