As UK-based Ankh Resources works to develop Egypt’s first gold and copper mine, CEO Mostafa Talaat looks forward to garnering more institutional investor interest with a longer-term view of the mining industry at the Investing in African Mining Indaba, which is being held in Cape Town, South Africa, from February 9 to 12.

The Ankh junior explorers exhibit at the Indaba not only aims to promote the company’s Wadi Dara project but also the geodiversity of Egypt as an attractive mining destination, particularly since a 2025 legislative amendment transformed the Egyptian Mineral Resources Authority into an independent economic entity to improve efficiency.

Additionally, Egypt’s mining tax system was revamped in 2023 to a more competitive regime featuring a 22.5% corporate tax rate, a 5% government net smelter return royalty on revenue, a 15% State net profit interest and a 0.5% community development contribution.

The company is advancing a 40 000 m diamond and reverse circulation drill campaign on the Wadi Dara project this year and next, which comprises a 100 km₂ block prospective for gold and copper mineralisation.

Ankh’s Dara concession, in which Wadi Dara is the most promising prospect, is based in the Arabian Nubian Shield in the northern section of the Eastern Desert of Egypt.

“We are committed to becoming a driving force behind the growth of Egypt’s mining industry and to becoming leaders in responsible mining practices. We intend to create a thriving, responsible mining operation aligned with national initiatives and global standards,” Talaat tells Mining Weekly.

Once Ankh publishes a mineral resource estimate following the 2026/27 drill campaign, the next milestone will involve expanding the resource further or engaging in a joint venture with a producer for development.

Talaat explains that an initial public offering is on the cards to finance the development of Wadi Dara in due course, with the company being focused on offering a balanced investment opportunity with gold and copper and leveraging the stability and availability of supply chains.

The company is currently undertaking fundraising and continues to advance geological modelling from drill results. The first three boreholes on site have already shown significant results, with the third borehole having intersected nearly 40 m of high-grade gold and copper anomalies.

Some of the mineralisation intercepts include 11 m of gold grading 1.93 g/t and copper grading 3.36% within a wider 35 m interval.

The company finds that the mineralisation occurs within a structurally controlled hydrothermal system and represents the strongest intersection reported by the company to date.

Two prior holes completed at Wadi Dara intersected a continuous mineralised interval of 29 m of gold grading 0.88 g/t and copper grading 0.73%, including a higher-grade zone of 8 m of gold grading 3.02 g/t and copper grading 1.91%; as well as 12 m of gold grading 2.14 g/t and copper grading 1.1% within a broader 41 m mineralised zone.

Importantly, drilling has so far confirmed continuity of gold and copper mineralisation along the same structural corridor and reinforced confidence in the geological model.

Ankh has spent about $8-million on exploration to date and plans to invest more than $25-million in further drilling in the next two years.

Talaat says extensive exploration programmes across the Arabian Nubian Shield will unlock promising mineral deposits for the region, boost economic development and secure vital strategic minerals needed to fuel the global green energy transition.