Cairo – 4 / 2 / 2023
Egypt is preparing over the next few weeks, To officially announce the launch of an international bid for the richest areas for gold in the world in Marsa Alam and Edfu in the Eastern Desert. This auction is the first of its kind with the profit-sharing system and the old law, according to the agreement concluded between the Mineral Resources Authority and the state-owned Shalatin Company.
One of the richest areas in the world in gold formations
The bid is put forward by the Shalatin Company on behalf of the Mineral Resources Authority, as it is the owner of the concession for 5 of the richest regions in the world in geological formations that bear gold ore in proportions that may reach more than 20 grams per ton. Which represents about 15 times the percentage of gold presence in the quartz veins of the Sukari mine.
We present maps and details of the global auction, which will be launched soon, for the richest regions for gold in Egypt. Especially after the Mineral Resources Authority and the Shalatin Company obtained all security and environmental approvals. It also finished setting all the conditions that would attract major international companies to enter the bidding, the most important of which are the participation rates and the financial and technical ability of the companies wishing to enter the bidding. Provided that these companies have precedents in research, exploration and gold production, whether in Egypt or in foreign countries.
The maps indicate the number of 5 areas in the Eastern Desert and Marsa Alam, including areas:
1- “Al-Barameya” is located on both sides of the asphalt road in Marsa Alam-Edfu, about 120 km west of Marsa Alam city. It contains two gold deposits, which are “Al-Baramiyah and Al-Husseinat”. The average proportion of gold is from 3 to 4 grams in a ton of rock.
2- «Atoud» and is located on both sides of the asphalt road in Marsa Alam – Edfu, about 50 km west of the city of Marsa Alam, The gold content in the region ranges from 0.5 to 20 grams per ton in the various rocks containing quartz veins and the associated heterogeneity bands.
3- «Hamata», the area is located on the Red Sea coast, south of the eastern desert, with a length of 50 km. The region contains 6 gold ore deposits. With an average proportion of gold up to 20 grams per ton of rock
4- “Fatairi area” and it is considered one of the rich gold-bearing areas, which is located between Safaga – Qena at kilo 30 north of Safaga Road. With an average gold content of about 14 grams per ton.
5- “Hangalia and Umm Oud” located southwest of the city of Marsa Alam at kilometer 55. Gold is formed in the region in white-gray quartz veins, with an average gold rate of up to 22 grams per ton.
The Ministry of Petroleum and Mineral Resources is working on implementing an ambitious plan to attract foreign investments through international bids to search for gold and associated minerals in the eastern desert of Egypt. During the past two years, it was able to attract about 11 international companies that won promising areas under the new law for mineral wealth, which were highly appreciated by major international companies specialized in the field of mining.
Some of these companies were also able to achieve positive results through research and exploration work in the Eastern Desert. It is expected that successive discoveries of mines similar to the Sukari mine will be announced soon.
Major international companies have also expressed their willingness to enter into the new auction, which will be launched soon, with a profit-sharing system, given the importance of these areas for the presence of gold in large proportions, based on the geological research that was carried out in the region through the missions of the Mineral Resources Authority.
