The gold tender in Egypt was concluded with the participation of four global companies

Shalateen company, associated with the Ministry of Petroleum and Mineral Resources, closed the bid submission for the global tender for gold and associated minerals exploration on the evening of Thursday, March 7, 2024, initially announced in April 2023

The gold tender in Egypt

The tender by Shalateen for gold mining in Egypt, particularly in the Eastern Desert, is a critical point in global bids due to these areas being among the world’s richest in gold content and extraction rates

A high-ranking official in the mining sector stated that the global tender by Shalateen was officially closed, with several reputable global mining companies participating, including Canada’s Lotus Gold, Russia’s Infinity, England’s Nubian Mines, and Saudi Arabia’s Steps

The participating companies are considered leaders in the mining industry, known for their financial and technical strength. For instance, Nubian Mines operates a lab in Egypt for gold sample analysis according to international standards and has several mines in the Eastern Desert

Russia’s Infinity, known for its good reputation, manages various gold mines worldwide. Canada’s Lotus Gold, operating in Egypt for years, is nearing a commercial gold discovery in the country and includes a team of foreign geology and exploration experts

Shalateen invited all global mining specialists to participate in the tender, targeting gold and related minerals extraction in specific areas such as Fatiri, Barramiya, Atud, Um Ud, and Hamata within Egypt’s Eastern Desert, based on a production-sharing model

Geologist Mark Campbell noted that Shalateen successfully attracted numerous qualified applicants by closing the bid submission phase, hinting at the potential announcement of the tender winners in May or June

Campbell further mentioned that the closure of Shalateen’s tender is positive news for Egypt’s mining sector, speculating a new global tender for gold exploration might be revealed at the upcoming Egyptian Mining Conference in July, organized by the General Authority for Mineral Resources

Over 12 global companies engaged in the data package purchase process, but ultimately, four global companies officially submitted their bids

The global tender by Shalateen, under the Ministry of Petroleum and Mineral Resources, covered five main exploration areas in Egypt’s Eastern Desert

 Fatiri area: Located between Safaga and Qena, 30 kilometers north of the Safaga road, spanning 368 square kilometers
Barramiya area: Situated alongside the asphalt road between Marsa Alam and Edfu, about 120 kilometers west of Marsa Alam, covering 481 square kilometers
Atud area: Also along the road between Marsa Alam and Edfu, about 50 kilometers west of Marsa Alam, spanning 177 square kilometers
Um Ud and Hangaliya area: Located southwest of Marsa Alam at kilometer 55, extending over 511 square kilometers
Hamata area: Positioned on the Red Sea coast south of the Eastern Desert, stretching over 50 kilometers with a total area of 1220 square kilometers

The source indicated that the winners of the tender would be announced following the completion of the bid evaluation process, expected in the second quarter of 2024