From inside the Sukari Gold Mine, one of the world’s largest gold mines, Karim Badawi, Minister of Petroleum and Mineral Resources, announced on Sunday, May 24, 2026, the launch of an “exceptional” edition of the Egypt International Mining Forum (EIMF), under the patronage of President Abdel Fattah El-Sisi, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
The event is scheduled to take place on September 28–29 in the New Administrative Capital, with broad international participation from major mining companies and global investors. During an extensive tour of Sukari, Badawi stated that the forum in its new edition marks the beginning of a new phase for Egypt’s mining sector.
He highlighted that it aims to enhance the country’s global competitiveness, attract major international players, and place Egypt as a regional hub for mining industries. The EIMF is a leading platform that brings together government officials, global mining companies, investors, and industry experts to discuss opportunities as well as developments in Egypt’s mining sector.
It also aims to promote investment, showcase Egypt’s mineral potential, and support the country’s transformation into a regional mining hub. He noted that these efforts align with presidential directives to unlock the full economic potential of Egypt’s mineral resources and increase the mining sector’s contribution to gross domestic product (GDP) from around 1% to 6%.
During the visit, Karim Badawi toured key facilities at the Sukari Gold Mine, including the open pit, maintenance workshops, and processing plant, which produces over 500,000 ounces annually following AngloGold Ashanti’s acquisition of Centamin, Sukari’s former operator, in 2024.
Anglo Gold Ashanti is a partner in the mine with the Mineral Resources and Mining Industries Authority (MRMIA). It's worth mentioning that Sukari ranks among the world’s top 15 gold mines and is a Tier 1 asset. Yasser Ramadan, Chairman of the MRMIA reviewed the sector’s recent reforms, including adopting a taxation and royalty-based investment model aligned with global standards, updating executive regulations, and introducing new incentives for exploration.
Meanwhile, Hoda Mansour, Managing Director of Sukari Gold Mine and Vice Chairman of AngloGold Ashanti Egypt, affirmed that the company’s decision to invest in Sukari in the second half (H2) of 2024 reflects strong confidence in Egypt’s investment climate. She noted that Egypt represents the company’s first entry into the Middle East.
Mansour praised the high level of local expertise at Sukari, where Egyptians constitute 97% of the workforce. She commended the strong partnership with the government. She added that the presence of a world-class asset like Sukari underscores Egypt’s promising geological potential and supports future discoveries of similar scale.
Recently, AngloGold Ashanti announced that the gross profit of the Sukari mine in Egypt during the first quarter (Q1) of 2026 increased by 80.25% from its level in Q1 2025. Moreover, the total cash cost per ounce of gold produced from the mine during this period came at $826/oz, the lowest among all of Anglo Gold’s mines in Africa and Australia.