MoPMR, AngloGold Ashanti Sign Draft Agreement for Gold Exploration

Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, oversaw the initial signing of a draft agreement with AngloGold Ashanti for gold exploration. The signing took place on the sidelines of the BEBA event.

The agreement, which will be finalized between the Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti, is subject to the completion of all necessary approvals and legal procedures.

The meeting also discussed the status of searching and exploration operations at the concession areas that were acquired by the company after AngloGold recently acquired Centamin, the owner of the Sukari mine, which is one of the largest and most important gold mines in the world, as well as the ways to enhance cooperation between the two sides during the coming period. 

Company officials praised the efforts of the Ministry of Petroleum and Mineral Resources (MoPMR) to finalize the agreement on the exploitation agreement model. 

AngloGold Ashanti officials expressed the company’s intention to pump more investments into the development of the Sukari mine by implementing more exploration and development operations. 

The meeting also touched on the status of progress regarding the establishment of a mining school in Egypt to train Egyptian youth in various mining skills, which Centamin has begun to establish, as the school is scheduled to start operating in September 2025. 

For his part, the Minister called on the company to participate in the new bid round for exploration of gold and associated minerals scheduled to be launched during the Q1 2025.