The Minister of Petroleum Witnesses Agreement Between Lotus Gold and EMRA for Gold Exploration

Engineer Tarek El Molla, the Minister of Petroleum and Mineral Resources, along with the Canadian Ambassador to Egypt, Louis Dumas, witnessed the signing of a research agreement between the Egyptian Mineral Resources Authority (EMRA) and Lotus Gold Corporation in the city of Marsa Alam

The agreement covers exploration activities in three sectors with investments estimated at approximately 5.2 million dollars

The geological contract was signed by Yasser Ramadan, the Head of the Mineral Wealth Authority, and Omar Abdel Nasser, the Regional Manager of Lotus Gold, in the presence of Michelle Silver, the General Manager of the company. Lotus Gold Corporation, a major Canadian player in the mining sector, participated in the global gold auction for the year 2020, securing seven sectors covering an area of about 1219 square kilometers in the first round

Subsequently, research contracts for these sectors were signed and handed over to the company in the fourth quarter of 2021, following the completion of all necessary approvals and requirements

In the second round of the global gold auction, Lotus Gold Corporation obtained three additional sectors, totaling 525 square kilometers, which are the subject of the newly signed research agreement

The signing ceremony followed a meeting between Minister Tarek El Molla and the company’s delegation, during which Michelle Silver presented an overview of the progress in the first-phase exploration sectors

The signing event and meetings were attended by Engineer Alaa Khushab, Deputy Minister for Mining, Engineer Hassanin Mohamed, Head of the Minister’s Central Office, Geologist Yasser Ramadan, Head of the Mineral Wealth Authority, Dr. Mohamed El Bagoury, General Manager of Legal Affairs at the Ministry of Petroleum and Mineral Resources, and Engineer Ayman Ibrahim, Head of the Central Administration for Mines and Quarries at the Mineral Wealth Authority