CAIRO – 21 January 2021:Egypt signed Thursday five contracts for gold exploration with total investments estimated at $ 13 million, in 13 sectors. The contracts were signed between the Egyptian General Authority for Mineral Resources and Canadian and Egyptian companies, in presence of Minister of Petroleum and Mineral Resources Tarek el-Molla. Molla stated that this signature is the first of the gold search and exploration contracts that resulted from the first global auction for 2020, which was put forward by Egypt, and the result was announced last November. The minister explained that the signing of the first gold exploration contracts represents an actual translation of amendments to the legislation and regulations of mining investment, which reflected positively on the investment climate in this sector, and helped place Egypt on the map of global investment in the search for gold and attracted a multitude of international and Egyptian mining companies. Molla added that the rest of the contracts will be signed in succession during the coming period with the rest of the winning companies.

Source: Egypt Today January 21, 2021 12:11 UTC