Egypt to launch international bid round for gold exploration in 2020

Egypt will launch an international bid round for gold exploration in 2020, an official source in the Egyptian Mineral Resources Authority (EMRA) said on Monday.

The round will cover concession areas, mostly in the Eastern desert, the source told Amwal Al Ghad.

Egypt is hoping that gold production can be a future source of growth for its struggling economy.

The government is working to complete the executive regulations on the new law, which it hopes it would unlock investment in Egypt’s vast mineral wealth that has been stalled by what miners describe as some of the world’s most discouraging terms.