The companies include Canada's Lotus Gold, the UK-based Nubian Mines, and Saudi Steps Group, in addition to a Russian company.
Egypt receives 4 offers to explore for gold in two areas near the Sukari mine during the first international bidding for Egypt, presented by Shalatin Mineral Resources Company, according to sources cited by Asharq Bloomberg.
The companies include Canada's Lotus Gold, the UK-based Nubian Mines, and Saudi Steps Group, in addition to a Russian company.
Egypt seeks to increase investments directed to the mining sector, and gold in particular, as it aims to invest one billion dollars in the mining sector by 2030.
Once the completion of these two gold areas, three additional regions will be made available for a fresh round of auctions, the source added.
It worth noting that, gold production from the Sukari mine rose to 450,000 ounces by the end of 2023, compared to 440,000 ounces last year in 2022, according to data from the English company Centamin, which owns the mine.
Earlier in May 2023, Global gold-producing entities, Canada’s Barrick Gold, and Australia’s Centamin, was in negotiations with Egypt to finalize the terms of gold exploration agreements in the Eastern Desert, local media reported citing unnamed high-level sources.
The sources told local media that most of the winning companies in the first round of the recent bidding received their concessions and started exploration. Centamin and Barrick Gold was at the forefront of negotiations with the government to settle on the model of the exploitation and production agreement.
