“Centamin” confirms significant economic benefits for Saudi Arabia and Egypt following the memorandum of understanding in the field of mineral wealth

Centamin International expressed optimism regarding Egypt and Saudi Arabia’s signing of a memorandum of understanding in the field of mineral wealth

Martin Horgan, CEO of Centamin International, commented on this event, saying, “It is encouraging to see Saudi Arabia’s willingness to collaborate on the global mining stage by signing a memorandum of understanding in the field of mineral wealth with Egypt, given the potential geological nature of the Nubian Shield. Cooperation between Saudi Arabia and Egypt will provide economic and social benefits to both countries”

Centamin has been operating as a leading mining company in the mineral-rich sector in Egypt for over 25 years and welcomes all forms of cooperation that create opportunities for its people through responsible mining

Egypt and Saudi Arabia signed a memorandum of understanding in the field of mineral wealth on the sidelines of their participation in the Third International Mining Conference, hosted by Riyadh

The memorandum was signed by Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, and Bandar bin Ibrahim Al-Khorayef, Saudi Minister of Industry and Mineral Resources

Centamin International announced direct exploration results in its exploration concession areas in the Eastern Desert (EDX) last Thursday, clearly highlighting Egypt’s important status as a global exploration destination for the gold mining industry

This discovery reinforces Centamin’s belief in Egypt’s vast potential in this sector and encourages them to invest further in gold exploration, based on their strong experience and long presence in the Egyptian market

As a result of the efforts made by the Centamin team, promising preliminary exploration results were achieved during drilling operations in the Block 9 area surrounding the Sukari mine

A precise approach was applied to assess the geological potential of Centamin’s gold exploration portfolio in Egypt, enhancing its position as a company that invests in Egypt in the long term and contributes to the development of this vital sector