Egypt Signs 4 Gold Exploration Deals With Canadian Firm

Egypt has signed four agreements on gold exploration in the Eastern Desert with Canadian Barrick Gold Corporation.

According to the agreements, the company will invest for the first time in the mining domain in 19 sectors in the Eastern Desert at a total investment cost of 8.8 million dollars.

The Canadian company will start the project after winning a bid by the Egyptian Petroleum Ministry in 2020.

Minister of Petroleum Tarek al-Mulla, in press statements, said that the reforms that were implemented by the ministry succeeded in increasing Egyptian and foreign investments in gold exploration in the country.



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