Harry Anagnostaras-Adams on building from Cyprus, expanding across continents and the opportunities ahead
From Nicosia to mining projects in Europe, Africa and the Middle East, Harry Anagnostaras-Adams has built an international career spanning several markets. Founder of a Cyprus-based group focused on gold and critical materials and Honorary Consul of Ethiopia to Cyprus, he has been involved in the development of projects on the island and abroad. Most recently, Anagnostaras-Adams participated as a speaker at the Africa Summit and the 16th African Business Leadership Awards 2026 in Accra, Ghana and at the House of Lords in London.
In this interview, he discusses his experience of building from Cyprus, the group’s activities abroad, Africa’s investment potential and the growing role of critical materials in the global energy transition.
Your business activities extend from Cyprus to Europe, Africa and the Middle East. What does this journey tell us about the ability of Cyprus-based companies to succeed internationally?
Cyprus may be a relatively small country, but size does not determine the reach of its people or businesses. What matters is expertise, ambition and the ability to build the right teams and partnerships. We moved our base to Cyprus more than two decades ago and have since built and coordinated international activities from here. Cyprus has given us access to highly skilled professionals, strong legal and financial services, an international business environment and an excellent geographic base from which to operate. Our experience demonstrates that Cyprus-based teams can originate ideas here, develop them internationally and compete successfully in technically demanding sectors. I think that is an important story for Cyprus. The island should not only be viewed as a destination for foreign investment. It can also be a base from which businesses and expertise expand into international markets.
What are some of the most important projects your teams have been involved in abroad?
Our teams have worked across several jurisdictions, particularly Spain, Slovakia, Saudi Arabia and Ethiopia, following geological opportunities and applying expertise developed over many years. The reactivation of Proyecto Rio Tinto in Spain now generates substantial annual copper production, while in Saudi Arabia we have identified deposits comparable in scale to historic globally significant copper mines in Cyprus. Proyecto Rio Tinto in Spain produces over $500 million per annum in copper sales, and Hawiah in Saudi Arabia, formed by KEFI Gold and Copper, contains $7 billion of copper today. The team has also made gold discoveries at Jabal Qutman in Saudi Arabia which starts development this quarter and is already developing its Tulu Kapi Gold Project in Ethiopia, a $500 million development which, in two years, should be producing over $500 million in gold revenue annually, at today’s gold price. What connects these projects is that much of the strategy, technical expertise and entrepreneurial drive behind them has been coordinated from Cyprus. That is something of which our entire team is very proud.
What has enabled a Cyprus-based team to operate successfully across such different countries and business environments?
Mining is ultimately an international business. The geology determines where you go, but success depends on much more than geology. You need technical expertise, access to capital, local knowledge, strong relationships and, above all, the ability to build trust over many years. Cyprus works particularly well in that respect. It is international in outlook and has a sophisticated ecosystem of legal, financial and professional services. It also sits naturally between Europe, Africa and the Middle East, regions that are becoming increasingly important for minerals and energy. But I would emphasise the people. We have brought together experienced professionals from Cyprus and abroad and built teams capable of operating to international standards. The lesson from our experience is that expertise developed or coordinated in Cyprus does not need to remain within Cyprus. It can travel.
You recently participated as a speaker at the Africa Summit and the 16th African Business Leadership Awards at the House of Lords in London. What did you take away from the event?
It was a great honour to be invited to the House of Lords alongside distinguished African and international leaders, policymakers and investors. The discussions reinforced my belief that Africa is entering an important period of economic and industrial development. There are significant opportunities across mining, energy, infrastructure, technology and other sectors, but successful investment must be based on long-term partnerships and mutual benefit. The occasion was also personally meaningful following the Special African Business Leadership Excellence Award I received earlier this year in Ghana. I regard that recognition as belonging not simply to me, but to the teams and partners who have worked for many years to develop projects such as Tulu Kapi. There is also a Cyprus dimension. As Honorary Consul of Ethiopia to Cyprus, I see considerable scope for Cyprus to strengthen its economic links with Africa. Cyprus has the potential to support investment across the continent, while African markets offer substantial opportunities for Cypriot businesses prepared to take a long-term view in a high-growth country with 130 million people which lacks certain industrial expertise that Cyprus excels at, as diverse as financial services, tourism, mining, pharmaceuticals and wine.
Critical materials are increasingly linked to energy security and the green transition. How significant is this shift for the mining industry?
It is fundamental. The energy transition cannot happen without mining. Electrification, renewable energy, electricity grids, batteries and digital infrastructure all require very large quantities of minerals, particularly copper and other critical materials. Copper is especially important, and that gives the discussion particular relevance for Cyprus. The island has one of the world’s great copper-mining histories, but we believe that history does not necessarily mean the story is finished. Modern exploration technology allows us to look deeper and more intelligently than previous generations could. We continue to believe there is untapped potential in Cyprus, in what we sometimes call the search for the “hidden Mavrovouni”. The challenge is to combine modern science with responsible development and high environmental and social standards. Mining and sustainability should not be regarded as opposing concepts. The minerals required for a lower-carbon economy have to come from somewhere, and the objective must be to produce them responsibly.
Looking ahead, where do you see the greatest opportunities for the sector, both in Cyprus and internationally?
We are entering a period in which access to critical materials will increasingly influence industrial competitiveness, energy security and economic development. That creates opportunities, but it also places greater responsibility on our industry. Internationally, regions such as Africa and the Middle East have enormous geological potential and are increasingly seeking investment that creates local economic value, employment, infrastructure and skills. Europe, meanwhile, is recognising that secure and diversified mineral supply chains are strategically important. Cyprus has an opportunity to participate in both dimensions. We should continue exploring our own potential using modern technology, but we should also think beyond our borders. Cyprus can provide expertise to international projects. That is perhaps the broader lesson from our own journey. We can explore and build in Cyprus, and build from Cyprus, partner internationally and participate in projects of global significance. In a world where critical materials are becoming increasingly important, I believe that opportunity will only grow.
Also read: Europe takes to the streets, but where are the Cypriots?
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