Barrick Gold inks four gold exploration deals in Egypt's Eastern Desert

Cairo - Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of four gold exploration deals between the Egyptian Mineral Resources Authority (EMRA) and Canada's Barrick Gold Corporation, the world's second-largest gold miner by reserves.

Under the deals, the Canadian firm will be investing in the mining and gold exploration sector in Egypt for the first time, according to a statement by the Ministry of Petroleum on Tuesday. 

Barrick Gold Corporation will explore for gold in 19 new blocks in the Eastern Desert with estimated investments of $8.8 million after winning an international tender launched by the ministry in 2020. 

Founded in 1978, Barrick Gold has mining operations in Canada, Australia, Argentina, and Zambia, among others. 

Mubasher Contribution Time: 27-Jul-2021 08:05 (GMT)
Mubasher Last Update Time: 27-Jul-2021 08:07 (GMT)