Minister of Petroleum and Mineral Resources Tarek El Molla has signed a contract for the exploitation of gold ore and associated minerals in the Abu Marwat region in the Eastern Desert between the Egyptian Mineral Resources Authority (EMRA) and Canadian mining firm Aton Resources.

This came after achieving a commercial discovery of gold in the Hamama Gharb and Rodrin areas, located in the Abu Marwat concession, in an area of ​​about 58 square kilometers.

EMRA’s Chairman, Yasser Ramadan, and Tonno Vahk, CEO of Aton Resources, participated in the signing.
El Molla further witnessed the signing of a contract between EMRA and the British company AKH GOLD to search for gold in an area of ​​350 square kilometers in the areas of Bir Asl and Jabal al-Mit in the Eastern Desert, within the framework of the English company’s expansion in investing in searching for gold in Egypt after its success in a number of regions in the global bidding to search for gold in its first and second rounds.

The contract was signed by Ramadan and Gerard De Hert, the Executive Director of the British company.
After the signing, El Molla confirmed that the reforms implemented in the Egyptian mining sector’s work system contributed to attracting investments from international companies to search for gold and precious metals.
El Molla highlighted the importance of accelerating research and exploration operations with the aim of achieving positive results.

Meanwhile, officials of the two companies praised the stability that Egypt is currently witnessing and the positive investment climate after the reforms witnessed in the mining sector as an important incentive for investment, stressing that efforts will be made to accelerate the pumping of investments and launch activities.