Wealth Opportunity Closing Today: Details of Egypt’s Gold Exploration Auction
“Shalatin,” a subsidiary of the Ministry of Petroleum and Mineral Resources, has set December 14, 2023, as the final date for receiving bids in the open global auction for gold exploration and associated minerals, announced in April 2023
Egypt’s Gold Exploration Auction
Shalatin’s auction for gold exploration in Egypt stands out as one of the most significant global bids, emphasizing the importance of these areas as some of the richest in the world in the Eastern Desert, in terms of gold extraction rates.
A reliable source from the Ministry of Petroleum and Mineral Resources revealed that several international mining companies, including Chinese, Canadian, Russian, and local companies, have expressed their interest in participating in the auction. The announcement of the winners is expected as soon as the evaluation of the bids is completed in the first quarter of 2024
The company has also specified the bid document fee at $2000 and outlined the areas available for bidding. Additionally, a data package fee of $5000 has been set for each site
“Shalatin” invites all global mining companies to participate in the auction, aiming to explore and exploit gold ore and associated minerals, following the production-sharing system in regions (Fateeri – Al-Baramiya – Atood – Um Aud – Hamata) in the Egyptian Eastern Desert
The auction includes five areas
Fateeri Area
Area: 368 square kilometers
Located between Safaga and Qena, at kilometer 30 north of the Safaga road
Al-Baramiya Area
Area: 481 square kilometers
– Located on both sides of the asphalt road between Marsa Alam and Edfu, approximately 120 kilometers west of Marsa Alam
Atood Area
Area: 177 square kilometers
Located on both sides of the asphalt road between Marsa Alam and Edfu, approximately 50 kilometers west of Marsa Alam
Um Aud and Hanjalia Area
Area: 511 square kilometers
Located southwest of Marsa Alam at kilometer 55
Hamata Area
Area: 1220 square kilometers
Located on the Red Sea coast, south of the Eastern Desert, stretching for 50 kilometers
