Wealth Opportunity Closing Today: Details of Egypt’s Gold Exploration Auction

“Shalatin,” a subsidiary of the Ministry of Petroleum and Mineral Resources, has set December 14, 2023, as the final date for receiving bids in the open global auction for gold exploration and associated minerals, announced in April 2023

Egypt’s Gold Exploration Auction

Shalatin’s auction for gold exploration in Egypt stands out as one of the most significant global bids, emphasizing the importance of these areas as some of the richest in the world in the Eastern Desert, in terms of gold extraction rates.

A reliable source from the Ministry of Petroleum and Mineral Resources revealed that several international mining companies, including Chinese, Canadian, Russian, and local companies, have expressed their interest in participating in the auction. The announcement of the winners is expected as soon as the evaluation of the bids is completed in the first quarter of 2024

The company has also specified the bid document fee at $2000 and outlined the areas available for bidding. Additionally, a data package fee of $5000 has been set for each site

“Shalatin” invites all global mining companies to participate in the auction, aiming to explore and exploit gold ore and associated minerals, following the production-sharing system in regions (Fateeri – Al-Baramiya – Atood – Um Aud – Hamata) in the Egyptian Eastern Desert

The auction includes five areas

Fateeri Area

 Area: 368 square kilometers
Located between Safaga and Qena, at kilometer 30 north of the Safaga road

Al-Baramiya Area

 Area: 481 square kilometers
– Located on both sides of the asphalt road between Marsa Alam and Edfu, approximately 120 kilometers west of Marsa Alam

Atood Area

Area: 177 square kilometers
Located on both sides of the asphalt road between Marsa Alam and Edfu, approximately 50 kilometers west of Marsa Alam

Um Aud and Hanjalia Area

Area: 511 square kilometers
Located southwest of Marsa Alam at kilometer 55

Hamata Area

Area: 1220 square kilometers
Located on the Red Sea coast, south of the Eastern Desert, stretching for 50 kilometers

سيد الأبنودى

سيد الأبنودي، صحفي متخصص في مجال البترول والطاقة والتعدين، يتمتع بخبرة تمتد لمدة 19 عامًا في صناعة البترول، لديه خبرة غنية في مجال العلاقات العامة والإعلام، حيث قدم إسهامات قيمة وتقارير دقيقة تعكس تفاصيل الصناعة وتحدياتها _ Sayed El-Abnody, a specialized journalist in the fields of petroleum, energy, and mining, boasts a 19-year experience in the petroleum industry. He holds rich expertise in public relations and media, delivering valuable contributions and accurate reports that reflect the intricacies and challenges of the industry.

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