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Tuesday, 21 May 2019

Barrick Gold mulls investment in Egypt’s Arabian-Nubian Shield

Barrick Gold could be eyeing assets in Egypt’s Arabian-Nubian Shield, Seeking Alpha reported CEO Mark Bristow as saying. The mining company is reportedly planning to explore the area and could sell its stake in the Jabal Sayid copper mine in Saudi Arabia if it finds gold or copper deposits. “I think they will seriously look at Egypt as an area to get into,” Aton Resources CEO Mark Campbell told us, commenting on the report. “It was an area that Bristow looked at when he ran Randgold, but as with most they were put off by the unattractive terms and conditions imposed on investors here in mineral exploration, so they went elsewhere. But when those terms and conditions change to be investor friendly, then I believe they will come,” he said. Aton Resources is a Canadian-based gold exploration and development company working on the Arabian-Nubian Shield. Campbell has previously written for Enterprise on the need to change contract terms for the mining industry in Egypt.

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