Egypt signs gold exploration contract with Canada’s Aton Mining

The Egyptian Mineral Resources Authority (EMRA) and Canada’s Aton Mining Company has entered into a new contract for gold exploration at the Abu Marawat Concession with a total area of 25 square kilometres, the cabinet said in a statement on Wednesday.

The EMRA also signed a contract withUK’s AKH GOLD for the exploration of gold on an area of 350 square kilometres at B’ar Asel and Gabal al-Mawta in Egypt’s Eastern Desert.

The officials of the two companies praised Egypt’s current stability and the positive investment climate, following the reforms in the mining sector as an important incentive to invest.

Aton has been advancing the exploration and development of the Abu Marawat Concession since its award in 2007, with active exploration starting on the ground in 2009.