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May 26, 2024
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Gold

Egypt signs two agreements for gold exploitation and exploration


Egypt has signed two gold mining and exploration agreements with Canadian and British companies.

Tarek El-Molla, Minister of Petroleum and Mineral Resources witnessed the signed a contract for the commercial exploitation of gold and associated minerals in the Abu Marawat Concession in the Eastern Desert between Yasser Ramadan, Chairman of Egyptian Mineral Resources Authority (“EMRA”), and Tonno Vahk, CEO of Canada-based Aton Resources.

Aton Resources reported commercial discoveries of gold at the Hamama West and Rodruin projects, spread over an area of about 58 square kilometres in its 100 percent owned Abu Marawat concession, located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s Sukari gold mine.

Tarek Al-Molla also witnessed the signing of an agreement between EMRA and UK-based AKH GOLD to prospect for gold over an area of 350 square kilometres in the areas of Bir Esl and Gabal El Mayyet in the Eastern Desert that were granted as part of bid round 2 in 2022. The agreement was signed by Yasser Ramadan, and Gerard de Hirt, the executive director of AKH GOLD,

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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