Egypt awards gold, mineral excavations to UK, Canadian, Egyptian companies after int'l tender

MENA , Ahram Online , Wednesday 1 Jun 2022

The Egyptian Mineral Resources Authority (EMRA) has announced the result of the second round of an international tender to search for gold and minerals in the Eastern Desert in 2020, with eight areas assigned for British, Canadian and Egyptian excavation companies.



In a statement on Wednesday, the EMRA said UK-based companies Akh Gold and Marine Logistics Gold Mining were awarded two blocks each, Canada’s Lotus Gold won three blocks, and Egyptian Ankh Resources won one block.

The EMRA added that the tender succeeded in attracting new investments despite the ongoing global challenges, including the economic impact of the coronavirus pandemic and the Russia-Ukraine crisis.

As per the first round of the tender, 82 areas in the Eastern Desert were assigned to 11 Egyptian and international companies.

All measures fall within the framework of efforts to float tenders to lure more local and foreign investors so as to help continue to search for gold and other minerals in promising areas, the statement said.

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