The Ministry of Petroleum supports Aton Resources in enhancing its investments and establishing a gold extraction plant in Abu Marawat

Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, received a delegation from the Canadian company Aton Resources, headed by the company’s president, Toono Vahk. The meeting discussed the company’s efforts in exploring and prospecting for gold in its concession area at Abu Marawat in the Eastern Desert, which lies within the Nubian Shield region.

Meeting of the Minister of Petroleum with Aton Company’s Delegation

During the meeting, the Minister of Petroleum confirmed that the ministry provides full support to the company in implementing its projects, which are considered important strategic initiatives that will benefit the Egyptian economy. He expressed his appreciation for the company’s commitment to the specified timelines for implementation and its desire to inject more investments into Egypt.

On his part, the company’s president presented a presentation on the company’s activities in the Abu Marawat area, where a successful commercial discovery has been made.

Establishing a Plant for Extracting and Processing Gold

The president of Aton pointed out the company’s full commitment to its activities in Egypt and the infusion of additional investments. He stated that they are currently working on establishing a plant to extract and process gold produced from the mine, which will feature advanced, environmentally friendly technologies. These technologies will prevent the wastage of any other minerals accompanying gold, achieving the highest extraction rates and allowing for the exploitation of all minerals present in the mine, not just gold.

He also mentioned the company’s endeavor to turn the mine into a world-class model and a great success story.

The meeting was attended by geologist Yasser Ramadan, Chairman of the Mineral Resources Authority; Engineer Moataz Attef, Deputy Minister for the Technical Office and the Minister’s Office and official spokesperson; and Dr. Mohamed El-Bagouri, General Director of Legal Affairs at the ministry. The Canadian company’s delegation included Sherif Barakat, the company’s general manager.

A Strong Company

Aton Resources, the Canadian company, is considered one of the strong mining companies operating in Egypt, possessing extensive experience in this field.

Since obtaining the concession for the Abu Marawat area in 2007 and starting its operations in 2009, the company has succeeded in building a strong partnership with the Egyptian Mineral Resources Authority (EMRA), in addition to its active participation in the Egyptian business community.

Abu Marawat Area

The Abu Marawat area is located in the Nubian Shield in the Eastern Desert and extends over an area of 447.7 square kilometers.

The area includes several important deposits, including Hamama and Abu Marawat, in addition to a recent discovery in the Rodruin area, enhancing its importance as a strategically mineral-rich site.

Investments and Achievements of the Company

Aton Resources has invested approximately one billion Egyptian pounds (about 32.4 million dollars) in the Hamama area within the Abu Marawat concession since the start of exploration operations.

These efforts culminated in achieving a commercial discovery in January 2024, leading to the establishment of a joint operating company between the Egyptian side and the Canadian partner. The company is chaired by Engineer Ayman Ibrahim, the Egyptian Chairman of the Board, and Sherif Barakat, the regional manager of the subsidiary company of the foreign partner.

This company undertakes the tasks of exploration and exploitation of gold and associated minerals in the Abu Marawat area.

Sector Development Strategy

The Ministry of Petroleum and Mineral Resources is implementing a comprehensive strategy to develop the mining sector, which includes updating legislation to attract investments, developing infrastructure, and providing necessary geological data to investors.

Initiatives have also been launched to facilitate licensing procedures and offer incentives to investors, aiming to transform Egypt into a global mining center.

Aton Resources is a successful example of public-private cooperation in the field of mining in Egypt.

Through its investments and expertise, the company contributes to the development of the mining sector and increasing its contribution to the Egyptian economy, aligning with the government’s vision to transform Egypt into a global mining hub.