Egypt unveiled a new investment incentives package designed to attract small and mid‑sized mining companies to undertake mineral exploration activities. The announcement was made at the “Explore in Egypt” event, where Karim Badawi, Minister of Petroleum and Mineral Resources, met with more than 30 Australian companies and institutions expressing interest in investing in Egypt’s mining sector as part of his visit to Australia.
The package includes reduced annual fees during early exploration stages, tax and customs exemptions for exploration equipment and supplies. It also includes the issuance of a single license for searching multiple minerals instead of several licenses. The incentives also introduce fast-track, low-cost reconnaissance licenses tailored for startup mining companies.
These licenses allow firms to quickly assess mineral potential without committing to large-scale exploration programs. Such measures create a more investor-friendly environment that aligns with the expectations of global mining companies.
The initiative aligns with broader reforms to modernize Egypt’s mining sector, including the transformation of the Mineral Resources and Mining Industries Authority into an independent economic body. Badawi emphasized that these reforms and incentives make Egypt’s mining investment climate more modern, flexible, and aligned with investor expectations.
During Badawi’s visit, the Mineral Resources and Mining Industries Authority signed a Letter of Intent with Murdoch University in Western Australia to enhance the technical and regulatory capabilities of Egyptian mining professionals through advanced training and knowledge exchange. Additionally, a Memorandum of Understanding (MoU) was signed with Spain’s Xcalibur Smart Mapping to conduct an aerial geophysical survey to assess Egypt’s mining potential nationwide and provide technological solutions for planning and evaluating mineral-rich deposits.
