Egypt is intensifying its push to become a regional mining powerhouse after signing a new gold exploration agreement with Turkish company OZ Mining, as Cairo races to attract foreign investors into its expanding mineral sector.
The agreement, signed under the supervision of Petroleum and Mineral Resources Minister Karim Badawi, will see Egyptian and Turkish teams jointly assess gold deposits and associated minerals in the Eastern Desert, a region increasingly attracting international mining interest because of its vast untapped reserves.
The memorandum of understanding was signed between Egypt’s Mineral Resources and Mining Industries Authority and OZ Mining at the authority’s headquarters in Cairo.
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 officials described the agreement as part of broader efforts to attract global mining investment and accelerate the development of the country’s mineral resources sector.
