The Egyptian government is set to launch an international bid round for gold exploration in the Eastern Desert by the end of this year, according to a government official cited by Asharq Business. The bid will include over 200 sites, attracting interest from global mining companies and investors.
The official noted that the bid will proceed once parliament approves a commercial exploitation contract for gold and minerals. This contract, involving the Egyptian General Authority for Mineral Resources (EMRA), Barrick Gold from Canada, and Centamin, covers areas awarded to the two firms in a previous international bid three years ago.
Additionally, production from Egypt’s Sukari Gold Mine (SGM) surged 30% year-on-year in the third quarter of 2024, reaching 131,700 ounces.
