With constant efforts being made to accelerate towards more contribution to its national revenues, Egypt’s mining sector hits record levels in the 2024/2025 fiscal year. Minister Karim Badawi, Minister for Petroleum and Natural Resources, confirmed that the country produced 640,000 ounces of gold and silver, representing a 14% increase from the previous year. This was at the Egypt Mining Forum.
Mineral production also witnessed substantial growth. Egypt extracted 26 million tonnes of mineral ores and mining products, a 39% increase over the previous year. Of this, 1.4 million tonnes were exported, excluding phosphate ore, with exports valued at $52.5 million.
Overall, revenues from mineral wealth development, which include gold sales and other mining activities, reached $446 million, more than doubling last year’s performance with a 131% year-on-year growth.
According to Badawi, these results reflect Egypt’s sustained push to position mining as a critical pillar of its economic diversification strategy, leveraging both its mineral wealth and strategic geographic position.
Egypt’s mining sector growth provides two crucial lessons for African economies. Gold as a Hedge for Economic Stability. In light of global economic uncertainties, Egypt’s emphasis on gold and silver extraction is particularly significant. These precious metals not only drive export revenues but also act as financial safety nets. Other resource-rich African nations can adopt similar strategies to mitigate external shocks.
Local Value Creation Needs Focus: Although Egypt’s production figures are impressive, the relatively low export earnings from non-gold segments indicate limited local value addition. To maximise economic benefits, Egypt and other African mining economies must prioritise downstream processing and beneficiation. This shift will enhance local economies and create sustainable growth.
As the race to expand industries has begun amongst African countries, Egypt’s mining performance shows the continent’s latent resource potential. But long-term growth will depend on moving from extraction to value creation.
