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Monday, 12 July 2021

Four more gold licenses signed for today

The government signed today four new gold exploration contracts with Canadian miner B2Gold and Australian gold miner and Sukkari operator Centamin, with investments exceeding USD 17 mn, the Oil Ministry said in a statement.

Who gets what? B2Gold was granted the rights for six gold exploration blocks under a USD 8 mn contract, while Centamin was awarded the remaining three contracts, valued at USD 9.1 mn, for gold search in 19 blocks, according to the statement. The agreements come under last year’s Oil Ministry tender, which awarded 11 mining companies the rights for 82 gold exploration blocks in the Eastern Desert last November.

Who signed so far? Four mining companies signed 10 new gold exploration contracts worth a combined USD 11 mn with the Oil Ministry in February. These include Sawiris-backed Akh Gold, Red Sea Resources, the North Africa Mining and Petroleum Company, and Al Abadi Mining. A month earlier, Canadian miner Lotus Gold and local firms Mining and Manufacturing Company and Ebdaa Gold Mining also inked their agreements. All remaining contracts for gold exploration concessions were expected to be signed by the end of February.

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