Egypt deepens mining ambitions with Turkish gold exploration partnership amid global mineral race
Egypt has taken another major step in its drive to become a leading regional mining hub after signing a new gold exploration agreement with Turkish company OZ Mining, as competition for mineral wealth intensifies across Africa and the Middle East.
The agreement, signed under the supervision of Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, will focus on exploring gold deposits and associated minerals in the country’s Eastern Desert, a region increasingly attracting international attention because of its vast untapped geological potential.
The memorandum of understanding was concluded between Egypt’s Mineral Resources and Mining Industries Authority and OZ Mining at the authority’s headquarters in Cairo, marking what officials describe as a strategic move to strengthen international partnerships and accelerate the growth of Egypt’s mining industry.
Geologist Yasser Ramadan, head of the Egyptian Mineral Resources and Mining Industries Authority, signed on behalf of Egypt, while OZ Mining chief executive Tanner Yelms represented the Turkish company.
Egyptian authorities say the deal forms part of a broader national strategy aimed at attracting foreign direct investment into the mining sector while unlocking the country’s enormous mineral reserves to support long-term economic growth.
Speaking after the signing ceremony, Minister Karim Badawi described Egypt’s mineral wealth as “a real treasure” and reaffirmed the government’s commitment to creating a supportive environment for mining investors operating in the country.
He also welcomed OZ Mining’s expansion plans in Egypt, stressing that the government would provide the necessary support to facilitate exploration activities and fast-track cooperation during the next phase of the partnership.
The agreement follows a series of technical meetings and discussions held in Turkey between Egyptian officials and representatives of OZ Mining focused on identifying investment opportunities and laying the foundation for long-term cooperation in the mining sector.
For OZ Mining, the partnership represents an opportunity to expand its international footprint by taking advantage of Egypt’s increasingly attractive investment climate and ongoing mining sector reforms.
Chief executive Tanner Yelms said the company intends to benefit from the incentives introduced by Cairo as part of efforts to position the country as a competitive destination for global mining investment.
OZ Mining currently operates across Turkey, Africa and Latin America, with activities concentrated on gold, silver and other strategic minerals increasingly critical to global industrial demand.
The latest agreement comes as Egypt accelerates reforms within its mining industry in an attempt to diversify the economy beyond hydrocarbons and generate new sources of foreign currency revenue amid continuing economic challenges.
Over recent years, Cairo has introduced significant changes to mining laws, licensing procedures and concession frameworks designed to improve transparency, attract international companies and increase investor confidence in the sector.
The Eastern Desert has emerged as the centrepiece of Egypt’s mining ambitions due to its significant gold reserves and its geological connection to the Arabian-Nubian Shield, one of the world’s richest mineral-bearing regions.
The area already hosts the Sukari mine, Egypt’s largest and most productive gold mine, while major international mining firms including Barrick Gold, AngloGold Ashanti and Centamin continue expanding their interest in the country’s mineral sector.
Egyptian authorities are increasingly positioning mining as a key pillar of economic diversification as governments across Africa and the Middle East compete to secure investment linked to rising global demand for gold and critical minerals needed for future industries and energy transitions.
