AngloGold Ashanti Expands Investment in Egypt with New Gold Exploration Deal

According to Badawi, developing agreement systems in line with global standards is a key pillar of the Ministry’s work strategy.

SEATTLE (Scrap Monster): Minister of Petroleum and Mineral Resources Karim Badawi attended the signing ceremony of a model agreement for the exploitation of gold ore and associated minerals in certain areas of Egypt’s Eastern Desert, between the Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti.

The agreement was signed by Yasser Ramadan, Chairman of EMRA, and Mohamed El Bagoury, General Manager of the Legal Department at the Ministry of Petroleum and Mineral Resources, on the Egyptian side; and on the side of AngloGold Ashanti, by Hoda Mansour, Managing Director and Vice Chairman of AngloGold Ashanti’s Sukari Gold Mine, as well as the representative of AngloGold in Egypt.

Following the signing ceremony, Badawi stated that this agreement is an outcome of a series of previous meetings held with the concerned specialists at AngloGold Ashanti, and it marks a new beginning in the mining sector.

According to Badawi, developing agreement systems in line with global standards is a key pillar of the Ministry’s work strategy. This approach aims to foster the confidence of international mining companies, encouraging them to inject new investments into the Egyptian mining sector, which will ultimately boost the gross national product, he said, extending thanks to AngloGold Ashanti for their efforts and the successful partnership.

For her part, Mansour praised the developments in the Egyptian mining sector, as well as the support provided by Minister Badawi and the efforts of EMRA and the Ministry’s team in overcoming obstacles faced by the company and investors to accelerate operations. She expressed her satisfaction with the signing of the agreement, which marks a new phase in expanding AngloGold Ashanti’s investments in Egypt.

 Courtesy: www.egyptoil-gas.com

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