CAIRO: Egypt has signed ten gold exploration contracts with four companies, worth a combined value of $11.2 million. The signing included four contracts with AKH Gold, a company affiliated with Egyptian businessman Naguib Sawiris, with a total investment of about $4.1 million. After the signing, Sawiris said that the new mining law and its executive regulations gave incentives for international and Egyptian mining companies. The authority had previously signed five contracts for gold research and exploration as part of the winning bids, with total investments estimated at $13 million. The contracts were with the Canadian Lotus Gold Co., the Egyptian company Mining and Manufacturing Co. (MEDAF), and the Egyptian Ebdaa for Gold Mining Co.

Source: Ethiopian News February 18, 2021 16:36 UTC