Arab Finance: Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi held talks with Mark Bristow, CEO of Barrick Gold, on the sidelines of the Indaba Mining Conference in Cape Town, South Africa, as per a statement.

The meeting was attended by senior officials from Barrick Gold and the Egyptian Ministry of Petroleum, focusing on enhancing cooperation and reviewing the progress of procedures related to the exploitation agreement, initially agreed upon during the British Egyptian Business Association (BEBA) mission in London last December.

Barrick officials commended Badawi for his efforts in accelerating the signing process.

Badawi highlighted the Ministry’s initiatives to transform the Egyptian Mineral Resources Authority (EMRA) into an economic entity, aimed at overcoming challenges, boosting efficiency, and maximizing the country’s mineral wealth to attract more global investments.

He emphasized the importance of the exploitation agreement as a key step toward positioning Egypt as a competitive mining destination.

The minister also reiterated Egypt’s commitment to sustainable mining practices, in close cooperation with the Ministry of Environment, to build a responsible and environmentally conscious mining sector.

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