The first agreement is a licensing deal for gold and
associated minerals exploration. It was signed between the Ministry of
Petroleum and Mineral Resources, the Egyptian Mineral Resources and Mining
Industries Authority, and Centamin Central Mining, a subsidiary of AngloGold
Ashanti.
The second agreement involves the initialling of a framework
agreement between the Ministry, the Egyptian Mineral Resources and Mining
Industries Authority, and Barrick Gold Corporation.
Geologist Yasser Ramadan, Chairman of the Egyptian Mineral
Resources and Mining Industries Authority, signed the first agreement with
Mohamed Kamal, Chairman of Centamin Central Mining.
Ramadan also signed the second agreement alongside Dr.
Mohamed El-Bagoury, Supervisor of the Central Department for Legal Affairs at
the Ministry of Petroleum, while Henry Onslow, Barrick's Exploration Director
for Egypt, Saudi Arabia, Africa, and the Middle East, signed on behalf of
Barrick.
Following the signing ceremony, Minister Badawi emphasized
the significant development within the mining sector, attributing it to the
state's strategy to maximize the added value of Egypt's natural resources,
particularly gold. He stated that these agreements reflect international
companies' confidence in Egypt's investment climate and its evolving mining
system.
The Minister added that the ministry remains committed to supporting the Egyptian Mineral Resources and Mining Industries Authority's efforts to enhance exploration opportunities and foster an attractive work environment in line with the latest global standards.