GOLD
airport and is only a few hours away from the capital city, Cairo. Notably, Egypt’s new mining code and accompanying reforms are drawing strong international interest and investment by creating a more competitive, transparent, and investor- friendly environment. The application of the Model Mining Exploitation Agreement (MMEA) framework, introduced in 2023, replaced the traditional profit- sharing model with a globally aligned system based on royalties and taxes. This framework, which includes a 5% government net smelter royalty and a 22.5% corporate tax rate, offers long- term resource exploitation licenses and a clearer path for companies to recover investment costs, making projects more attractive to international financiers. Major producers such as Barrick, mid-tier companies like B2Gold, and several Canadian and UK-based junior explorers have already entered the Egyptian market, launching greenfield exploration programmes. Most notably, gold major AngloGold Ashanti recently paid a significant premium for Egypt’s Sukari gold mine through its $2.5 billion acquisition of Centamin plc, completed in November 2024. The presence of two top-tier miners investing in Egypt underscores the confidence the government has fostered within the international mining community. “Government continues to refine the mining code encouraging increased competitiveness in line with its ambition to lift the sectors GDP contribution from 1% to 5% by 2030. Over the past six years, government has invested over $10 billion in infrastructure development – including improving access to ports and international airports – all of which enhance the ease of doing business and attracting foreign direct investment.” The locally founded exploration company is also restructuring its board, adding highly experienced personnel to its management team. “We continue to evolve the business, beefing up the team with highly skilled and experienced members and adding reputable personnel to our board. We recently employed a strategic mining investor and three high net worth individuals who are well known in the mining industry,” concludes Talaat. n
FLTR _ Raadiyah Emam-Head of Investor Relations, Ankh Resources. Mostafa Talaat-CEO Ankh Resources. Karim Badawy-Minister of Petroleum and Mining Egypt, Eng. Abdel Haleem Assran -Exploration Manager, Ankh Resources. Eng. Yasser Ramadaan – Chairman of the Mineral Industries and Mining Resources Authority, Tarek Torgoman, Managing Director at Sericom.
Tim Livesey, Non-Executive Chairman for Ankh Resources and Expert Geologist reviewing mineralised drill core from the Dara Project.
resource capable of meeting growing global demand. Importantly, the project’s proximity to Ras Gharib in Egypt – home to roughly 70% of the country’s oil and gas investments – provides access to a mature network of established service companies, further strengthening its strategic advantage. We are already engaging with several service providers, including drilling with Capital Limited, laboratory services with the MSA Group and lab equipment with FLSmidth.” The region also offers logistical advantages of good road access, nearby port facilities, proximity to an international
both gold and copper, Ankh is poised to unlock multiple revenue streams, making it a highly attractive opportunity for the emerging miner. “The project’s appeal is driven, first and foremost, by the potential to deliver a dual return on investment for our current investors and shareholders. With the same capital outlay, we can advance both gold and copper development, significantly enhancing the company’s overall valuation. In addition, copper – now one of the world’s most essential minerals – positions the Arabian-Nubian Shield as a largely underexplored
30 MODERN MINING www.modernminingmagazine.co.za | February 2026
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