As part of its efforts to transform the country’s mineral resources sector, Egypt is expanding cooperation with foreign mining companies. The latest move involves attracting Turkish investment: Egyptian authorities and mining holding company OZ Mining have agreed to work together in the Eastern Desert, where active exploration for gold deposits is planned.
A memorandum of understanding signed by the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority outlines the creation of a bilateral technical mission. Experts will assess the geological potential of designated exploration areas. A positive evaluation will pave the way for more advanced exploration activities, including detailed geological surveys and drilling programs.
The foundation for the agreement was laid during negotiations held in Istanbul in the spring of 2026. On the sidelines of an OECD forum focused on critical minerals markets, Minister Karim Badawi held a series of strategic meetings with Turkish industry representatives, ultimately leading to the signing of the memorandum.
Representing the Turkish side, OZ Mining CEO Taner Yılmaz expressed confidence in the long-term prospects of the partnership. For the company, whose assets are spread across Latin America and Africa and whose portfolio includes gold and polymetallic mining operations involving zinc, lead, and silver, Egypt has become a strategic priority. Investors have been attracted not only by the country’s mineral potential but also by the favorable conditions Egypt has increasingly offered mining companies in recent years.
OZ Mining’s area of interest is the Eastern Desert, traditionally the heart of Egypt’s gold mining industry. The planned project is located within the same broad region as the successful Sukari mine, one of Africa’s most significant gold operations. For Cairo, Sukari serves as a strong example demonstrating the profitability and stability of Egypt as a mining jurisdiction.
Beyond traditional gold-bearing belts, Egypt’s mining strategy also focuses on developing an industrial cluster within the so-called Golden Triangle region, stretching between Qena, Safaga, and Quseir. This Red Sea coastal zone is attractive not only for its gold potential but also for its substantial phosphate resources, creating opportunities for broader economic development.
The integration of OZ Mining into Egypt’s mining sector is not an isolated transaction but part of Cairo’s broader strategy. Through public-private partnerships, Egypt aims to accelerate the development of its mineral resources and convert its geological potential into a significant driver of national economic growth.
Source: Rusmet
