Egypt to invest in gold, mineral mining
Egypt is working to increase the exploration of gold and minerals in the Eastern Desert with the aim of attracting investments in the mining sector.
CAIRO — The Egyptian Ministry of Petroleum and Mineral Resources announced that Egypt granted eight mining exploration licenses for gold and minerals in the Eastern Desert as part of its efforts to increase investment in the mining sector.
In an official statement published June 1, the ministry said the eight blocks were awarded to English, Canadian and Egyptian companies.
The six-year licenses were won by Canada’s Lotus Gold, the British Marine Logistics Gold Mining, the UK-based Akh Gold company and the Egyptian Ankh Resources company.
According to officials from the companies who took part in the latest tender and were quoted by Reuters, 15 companies participated in the tender that closed in June 2021.
