Businessman Naguib Sawiris, Chairman of the Board of Directors of “Lamarsha Holding” for gold mining, revealed in special statements to “the seventh day”, that he will submit to participate in the global bidding that will be presented by the Ministry of Petroleum and Mineral Resources for research and prospecting for gold during the coming period.
Businessman Naguib Sawiris confirmed that there are currently no negotiations with the Australian Centamin Company, which owns the Diabetic Gold Mine, to acquire its shares.
The sources of the Mineral Resources Authority have revealed that a global bid will be put forward for research and exploration for gold and associated minerals, where the sources suggested that the offering be completed at the end of February or mid-March..
The sources added in special statements to “The Seventh Day” that this bid is the first after the issuance of the new mining law and the executive regulations, explaining that it is completely different from the auctions offered by the authority during the past periods..
The sources pointed out that the new bidding system for gold prospecting and exploration, which will be launched, will be renewed every 3 months in order to allow international companies to participate in it, explaining that the bidding system will depend on the royalty, tax and lease system, and will include a free quota for the government.
It is mentioned that the Ministry of Petroleum and Mineral Resources adopts a strategy to create an attractive environment for foreign investment in the field of prospecting for mineral resources, to maximize the benefit from them and work to maximize the added value and return of mineral wealth, as it aims to encourage investment in establishing projects to manufacture mineral resources and turn them into final products to increase the value The additive is in line with the strategy of optimizing the economic exploitation of mineral resources.
Two gold production companies are currently operating in Egypt, they are the Australian Centamine in the Al-Sukari mine, and the Cypriot Matzolding Company that works in the Hamash mine, in addition to two gold research and exploration companies, the Canadian “Aten Mining” and the second “Dubai” UAE..
During the year 2017, the Mineral Resources Authority launched a global bid for gold prospecting in 5 regions within the Eastern Desert, which are the areas of Umm Al-Rus, Umm Samra, and Bukari, in addition to the Umm Oud and Hingaliya region, as well as a site in the city of Dahab in the South Sinai Governorate, and included a result The bidding was awarded to Bokari and Umm Samra regions on the company “Resolute Egypt Limited”, the region of Umm Al-Russo on the English company “Veritas Mining Limited”, the region of Umm Oud and Hangla on the Egyptian East Gas Company, and the Dahab region on the Spanish company “Ghassan Span” for investments.
The Council of Ministers had approved last January the executive regulations of the Mineral Resources Law, after the People’s Assembly approved amendments to the law issued in 2014.
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