Prime Minister Mostafa Madbouly visited the Sukari Gold Mine to discuss future expansions and investments in Egypt’s mining sector. The government aims to reform the legislative and investment frameworks, collaborating with AngloGold Ashanti to ensure growth. Enhanced solar energy use and increased investments are key components of the plan, with significant focus on sustainability and operational efficiency.
Prime Minister Mostafa Madbouly recently visited the Sukari Gold Mine in Marsa Alam, engaging with leaders from AngloGold Ashanti, which co-owns the mine, as well as Minister of Petroleum and Mineral Resources Karim Badawi and geological experts. The visit was intended to assess ongoing operations and discuss potential investments in Egypt’s mining sector.
Madbouly mentioned the government’s comprehensive strategy, developed in collaboration with the parliament, aimed at enhancing the mining sector. He emphasized that reforming the legislative, financial, and investment frameworks in line with international standards is essential to this initiative. This reform could potentially increase the sector’s contribution to Egypt’s GDP significantly.
During the inspection, Madbouly observed underground mining operations and toured the solar power station at Sukari, boasting a capacity of 36 Megawatts (MW), which meets about 20% of the mine’s energy needs. This clean energy source notably reduces fuel consumption by 22 million liters yearly and cuts carbon emissions by 60,000 tons annually. There are plans to boost this capacity to 45 MW, with intentions to connect it to the national grid.
Alberto Calderon, CEO of AngloGold Ashanti, indicated that further investments into Sukari are on the horizon. He highlighted Egypt’s potential for uncovering additional high-value mining sites, suggesting that the country is a focal point for the company’s global investment strategy.
Badawi reiterated that fostering a positive investment atmosphere for mining is crucial. He highlighted ongoing reforms, such as transforming the Mineral Resources Authority into a more economically driven entity, aimed at improving efficiency and drawing in foreign investment.
During his visit, Badawi praised the Sukari mine, calling it a key project for Egypt. He noted its operational excellence and the effectiveness of the local workforce in managing daily operations. Badawi stressed the significance of this successful investment model, a collaboration between Egyptian Mineral Resources Authority and AngloGold Ashanti, which is known as one of the foremost gold producers globally.
In summary, Prime Minister Madbouly’s visit to Sukari Gold Mine reflects a strong commitment from the Egyptian government to develop the mining sector. The focus is on implementing strategic reforms to attract foreign investment and modernize existing frameworks. With promising plans for expansion and sustainability, especially through the solar power initiative, the government’s efforts appear aimed at enhancing the sector’s economic impact.
Original Source: egyptoil-gas.com
