Egypt signs 4 new contracts for gold, minerals exploration with investments of $17M

Egypt signs 4 new contracts for gold, minerals exploration with investments of $17M

CAIRO – 12 July 2021: Minister of Petroleum and Mineral Resources of Egypt, Tarek El Molla, witnessed the signing of 4 new contracts to search for gold and associated minerals and exploit them in 15 new sectors between the Egyptian General Authority for Mineral Resources and the Australian companies Centamin and Canada's B2 Gold, with investments exceeding $17 million. The number of companies that signed contracts for the first round of global bidding No. 1 of 2020, which was put forward by the ministry, becomes 10 international and local companies, and the total signed contracts becomes 20 contracts for research in 56 sectors, with investments exceeding $47 million, according to petroleum ministry's statement issued, Monday. The contracts were signed by Khaled El-Sheshtawy, head of the Egyptian General Authority for Mineral Resources, and Martin Horgan, CEO of the company, initialing the draft search license, and for Gold B2, Goragan Tom, CEO of research activities, and Mohamed Zaher, head of the Zaher Group, the local partner of the Canadian company in Egypt. The minister praised the results achieved by the bidding so far, calling on the winning companies to speed up their activities in light of the momentum provided by the