Cairo launches first round of gold exploration bids

16 January 2017

The bidding round experienced several delays in 2016 and is now expected to be completed by April 2017

Cairo is set to launch the first round of its international gold and associated minerals tender for explorations in Sinai and the eastern desert, according to a statement from the Egyptian Mineral Resources Authority (EMRA).

EMRA said in its statement that companies interested in competing in the tender would be able to contact the authority to purchase all relevant documents by 15 January.

The bidding round, which experienced several delays in 2016, is expected to be completed by April 2017, said the EMRA.

Egypt has been keen on developing its minerals and mining sector. In addition to the latest tender for gold exploration, in late 2016 Egypt’s Ministry of Trade and Industry submitted its 30-year masterplan to the cabinet for the Golden Triangle Project.

The masterplan was carried out by D’Appolonia, the Italian engineering services company that is responsible for the project that requires approximately $2.3bn-worth of infrastructure works, according to government estimates.

The Golden Triangle project aims to take advantage of the country’s under-tapped mineral resources and develop the Upper Egypt area.

The Golden Triangle scheme is slated to include several interrelated projects including fertiliser factories, phosphate ore processing facilities and facilities to process shale and limestone as a precursor to cement.

The Golden Triangle project focuses on a triangular-shaped area of Egypt that covers 6,000 square kilometres between the towns of Edfu, south of Quena, to Marsa Alam, on the Red Sea coast, to Safaga, which is located to the north of Marsa Alam. 

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