Egypt Revamps Its Gold Mining Sector as Global and Local Giants Expand Operations

Egypt’s gold exploration map is undergoing a major reshaping, with the market shifting from almost complete reliance on the Sukari Mine to the entry of global and local mining companies that have recently begun operating in Egypt. The number of companies is expected to rise in the coming period, particularly after the Ministry of Petroleum and the Mineral Resources Authority adopted amendments and facilitations.

These include converting the authority into an economic entity, amending tender terms, and adopting the “open-area system” to offer greater opportunities to companies. Awarding procedures have additionally been streamlined, while geological data and information has been made accessible to companies to enhance exploration, drilling, and production activities. Furthermore, the state now maintains a clear policy aimed at increasing added value by shifting toward domestic processing and halting the export of raw materials.

Most current gold exploration activities are concentrated in the Eastern Desert and the Arabian-Nubian Shield, as this is one of the most promising geological belts for gold and associated minerals. This aligns with a clear plan to raise the mining sector’s contribution to GDP to approximately six percent, up from less than one percent currently.

According to data from the Ministry of Petroleum and Mineral Resources, the open-area system attracted applications from 119 companies during its first three months—including over 14 foreign companies—which submitted 403 bids across 118 sectors out of 335 offered, covering nearly 45,000 square kilometers under the recently launched tender.

Companies operating in Egypt

1. AngloGold Ashanti

Tops the list after entering the Egyptian market through its acquisition of Centamin in November 2024, becoming responsible for the Sukari Mine and its Eastern Desert exploration portfolio. The Sukari Mine is located approximately 30 kilometers southwest of Marsa Alam, with a concession area covering about 160 square kilometers. The company’s presence extends beyond the mine itself; AngloGold Ashanti CEO Alberto Calderon revealed at the Egypt Mining Forum that the company submitted applications to invest in 19 gold exploration areas covering over 3,000 square kilometers.

2. Aton Resources (Canada)

This company focuses its operations on the Abu Marawat concession in the Eastern Desert. It began working on the concession in 2007 and succeeded in developing several prospects and deposits, including Hamama, Rodruin, Abu Marawat, Semna, and Sir Bakis. In January 2024, the most significant turning point occurred when a commercial discovery was declared at Hamama West and Rodruin, granting the company an exploitation lease covering approximately 57.66 square kilometers for an initial 20-year period.

3. Barrick Gold

It entered the Egyptian market after winning blocks in the 2020 tender, signing four contracts in July 2021 covering 19 sectors in the Eastern Desert with declared exploration investments of approximately $8.8 million. During 2025, the company conducted geological expeditions and studies across several sites, including Wadi Allaqi.

4. Lotus Gold Corporation (Canada)

In January 2021, the company signed three contracts to explore for gold across 11 sectors, with contractual investments totaling approximately nine million dollars. Among the most prominent areas where the Ministry confirmed the company’s progress during 2024 were Wadi Zaidoun, Umm Samra, Seqdid, and Umm Salim in the Eastern Desert.

5. AKH Gold

It is one of the largest holders of exploration territory among private companies operating in Egypt. The company began with four exploration contracts across nine sectors in the Eastern Desert, with an initial investment commitment of approximately $4.1 million.

6. Afaq mining

The company operates in the West Jabal Elba area in the southern Eastern Desert in cooperation with Shalateen Mineral Resources Company. In June 2026, the Ministry of Petroleum confirmed that the company achieved positive exploration results.

7. Shalateen Mineral Resources Company

One of the state’s most important arms in gold development in the southern Eastern Desert, in addition to its role in regulating traditional prospectors’ activities. Among the company’s most prominent assets is the Iqat area, where the Ministry of Petroleum announced a commercial discovery in 2020 with estimated reserves of over one million ounces of gold.

8. Red Sea resources

This company signed three contracts to operate across five sectors, with declared exploration investments of approximately $5.5 million. The company remains present within the Egyptian mining community.

9. Nubian mining

The company signed a contract with investments of approximately $5.2 million to explore in one of the Eastern Desert sectors. In July 2025, the Ministry of Petroleum confirmed the continuation of the company’s exploration, prospecting, and gold production activities.