Egypt signs four new gold exploration deals

Egypt has signed four new gold exploration contracts with Australia’s Centamin and Canada’s B2Gold, Ministry of Oil said in a statement on Monday.

The contracts will see the exploration and development of gold and accompanying minerals in 15 new blocks with investments worth more than $17 million.

Khaled Al-Sheshtawy, chairman of the state-run Egyptian Mineral Resources Authority (EMRA), signed an agreement with B2Gold executives for gold exploration in six blocks with investments of $8 million.

He also signed three more deals for exploration in 19 blocks with Centamin with investments of $9.1 million.