Located in northeast Africa bordering the Mediterranean and Red Sea’s, Libya, and the Sudan, Egypt pas a population of over 100 million making it the 14th most populus country in the world. Its capital, Cairo, is the largest city with a population of over 20 million. Approximately 95% of the population live within 20 km of the Nile River and the Nile Delta. Egypt has implemented a plan – “Egypt’s Vision 2030” – focused on advancing cross-country infrastructure, technology, green technology, and power initiatives, as well as to become a leader within the region and true hub for the world.

Egypt has one of the longest histories of any country, tracing its heritage back to the 6th–4th millennia BCE. Considered a cradle of civilisation, Ancient Egypt saw some of the earliest developments of writing, agriculture, urbanisation, organised religion and central government. Modern Egypt dates back to 1922, when it gained independence from the British Empire as a monarchy. Following the 1952 revolution, Egypt declared itself a republic. Egypt regularly ranks among the top 20 countries for tourism, globally.

Gold mining in Egypt dates back 5,500 years however no meaningful modern gold exploration has been conducted in part due to the nature of the previous mining codes and associated laws. In contrast the Oil & Gas sector in Egypt is well developed currently representing some 15% and 50% of GDP and FDI, respectively. In an attempt to envigorate the mining sector between 2019-2022, the Egyptian Government – through the Egyptian Mineral Resources Authority (EMRA) and Egypt Ministry of Petroleum and Mineral Resources – revamped the mining law. A competitive bit round process was announced in 2019/2020 covering the highly-prospective Egyptian Eastern Desert. The Bid-Round was a success, having attracted amongst others, Barrick Gold, B2Gold, Centamin, Elemental-Altus Strategies (AKH, now owned by In2Metals), and Lotus Gold Corporation.

Macro Benefits

• Africa’s 2nd largest economy (with largest presence of Fortune 500 in Africa)

• Regularly ranks as one of Africa’s biggest destination for FDI

• Egypt has historically had a healthy GDP growth averaging 4%
• Access to varying labour skill-sets
  • Approximately 90% of population below 55 years of age
  • Over 70% country-wide literacy
  • Approximately 7% unemployment with 50% male-female ratio

Doing Business in Egypt

• Major signatory to multinational and bilateral trade agreements (approximately 8 major trade agreements)
• Approximately 10% of world trade passes through the Suez Canal (revenue and volume)
• Excellent regional hub, strategically located in North Africa – as a gateway to Africa, Middle-East and Europe, as well as the rest of world by extention
• Business friendly tax regime with 22.5% corporate tax rate and subsidies
• Abundance of resources and committed to grow mining similar to O&G sector
  • O&G US$40 Bn (approx. 15% GDP and 50% FDI – incl. BP, ENI, Shell; +50 years mature and stable industry)
  • 1M ounces of gold produced per annum with significant upside potential

Extensive Country-Wide Infrastructure

• Over +/-200k km country-wide paved road network, connecting 9 main ports and 8 key international city airports (28 commercial in-country airports)
• Extensive government development programs as part of “Egypt’s Visition 2030” plan in, among others, road, ports and hydro/wind/solar power
• Good single and multi-lane highways pervasive across the country, including from Cairo through Hurghada, down to Marsa Alam (Red Sea Governance, where the new Egyptian Eastern Desert blocks are situated)