Egypt Announces New Gold Discovery in Abu Marwat Area in the Eastern Desert
Engineer Tarek El Molla, the Minister of Petroleum and Mineral Resources, has signed a contract for the exploitation of gold ore and associated minerals in the Abu Marwat region in the Eastern Desert. This agreement was signed between the Mineral Resources Authority and the Canadian company Atun Mining, following their successful commercial gold discovery in the Hamama Gharb and Rodreen areas within the Abu Marwat concession, covering an area of approximately 58 square kilometers
The signing ceremony was attended by Geologist Yasser Ramadan, the President of the Mineral Resources Authority, and Tono Vak, the CEO of Atun Mining
Additionally, Engineer Tarek El Molla witnessed the signing of a contract between the Mineral Resources Authority and the English company AKH GOLD for gold exploration over an area of 350 square kilometers in the Bir Asal and Gebel El Mait regions of the Eastern Desert. This agreement reflects the English company’s expansion in investing in gold exploration in Egypt, following its success in winning several areas in the global gold exploration bidding rounds
The contract was signed by Geologist Yasser Ramadan, the President of the Mineral Resources Authority, and Mr. Gerard De Hert, the CEO of the English company
El Molla emphasized that the reforms implemented in the Egyptian mining sector have attracted international companies to invest in the search for gold and precious metals. He stressed the importance of expediting research and exploration processes to achieve positive results
Officials from both companies praised the current stability and positive investment climate in Egypt, following the reforms in the mining sector, considering them as significant incentives for investment. They also emphasized their commitment to exert efforts to expedite investments and launch their activities
The signing ceremony was attended by Engineer Alaa Khoshab, the Deputy Minister for Mineral Wealth, Engineer Hassanin Mohamed, the Head of the Minister’s Office Central Administration, Dr. Mohamed El-Bajouri, the General Director of Legal Affairs at the Ministry of Petroleum and Mineral Resources, and Dr. Ayman Ibrahim, the Head of the Central Administration for Mines and Quarries at the Mineral Resources Authority
Atun Resources, the Canadian company, aims to commence gold production from the Eastern Desert in Egypt by 2025. The company is currently focused on exploiting the Abu Marwat concession in the Arab-Nubian Shield region, southeast of Cairo. With a successful track record in the industry, the company has invested approximately 1 billion Egyptian pounds, equivalent to around 32.4 million US dollars, in the Hamama area within the Abu Marwat concession since the start of exploration activities in 2010
