Egypt is stepping up efforts to expand its gold mining sector, as the Ministry of Petroleum and Mineral Resources advances talks with Barrick Mining while state-affiliated Shalateen Mineral Resources Company targets a sharp rise in production in 2026.
On the sidelines of the Future Minerals Forum in Riyadh, Petroleum and Mineral Resources Minister Karim Badawy met Barrick CEO Mark Hill to review the company’s proposed work programme and investment roadmap in Egypt. The discussions focused on expanding gold exploration in the Eastern Desert, supported by Egypt’s newly approved competitive framework for gold and mineral exploitation contracts, which aims to improve investment conditions and attract foreign capital.
Barrick plans to begin exploration in new Eastern Desert areas once regulatory and procedural requirements are completed, following geological surveys conducted across several sites in 2025. Badawy said Egypt aims to position itself as a regional hub for global mining companies, describing the partnership with Barrick as a key pillar of the government’s mining strategy. Hill welcomed Egypt’s legislative reforms, saying they would support the expansion of Barrick’s operations under clear timelines.
In parallel, Shalateen Mineral Resources plans to raise its annual gold output by about 21% in 2026 to around 1.15 tonnes, up from 950 kilograms in 2025, according to company sources cited by Al Arabiya. The increase—equivalent to roughly 200 kilograms—is driven by expanded exploration and mining across its concession areas in the Eastern Desert. First-quarter output from the Iqat Mine and affiliated artisanal mining operations is expected to reach 330 kilograms, compared with 240 kilograms a year earlier.
Shalateen delivers its monthly gold production to the Central Bank of Egypt at global market prices. Together, the Barrick talks and Shalateen’s production targets underscore a broader state-led push to scale up gold output and strengthen Egypt’s mining sector.
