11 companies win gold exploration bids in Egypt's Eastern Desert

2020-11-19 14:05:38 GMT2020-11-19 22:05:38(Beijing Time) Xinhua English

CAIRO, Nov. 19 (Xinhua) -- Egypt's Minister of Petroleum, Mining, and Mineral Resources Tarek el-Molla said on Thursday that 11 companies including seven international enterprises won the exploration bids for gold in the Eastern Desert.

The bid launched in March covers 82 parts on 14,000 square meters with a minimum investment of 60 million U.S. dollars for the first stage of exploration, said el-Molla in a press conference.

"Egypt pays much attention to the mining sector for maximizing the benefits of the mineral resources wealth and its contributions in the country's national income," el-Molla noted.

He added that the government works on developing the roads, ports and airports to lure more investments.

He announced other bids for gold mining in 2021, adding that other international tenders will take place amid of March 2021 on an area near Nasser Lake for mining iron, phosphate, white sand, zink, and potassium salt. Enditem

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