MINING REFINING

Egypt to Launch New Gold Exploration Bidding in Q1 2025

Thu Dec 05 2024

The Egyptian Ministry of Petroleum, led by Minister Karim Badawi, is set to launch a new gold and associated minerals exploration bidding process in the first quarter of 2025.

This announcement came during a meeting with officials from South Africa's AngloGold Ashanti, where discussions centered on the ongoing exploration and drilling operations in Egypt's Sukari gold mine, following AngloGold's recent acquisition of Centamin, the mine's former owner.

The meeting also highlighted the progress of establishing a mining school in Egypt, designed to train local youth in mining skills. The school, initiated by Centamin, is scheduled to begin operations in September 2025.

Additionally, AngloGold Ashanti officials expressed their commitment to further invest in the development of the Sukari mine, with plans for additional exploration and development activities. The meeting concluded with the signing of a draft agreement for gold exploration between the Egyptian Mineral Resources Authority and AngloGold Ashanti, subject to final approvals.

This initiative is part of Egypt's broader efforts to boost its mining sector and attract further investments, ensuring the country's position as a key player in the global gold market.

Source: https://allafrica.com/