{"id":546817,"date":"2022-05-30T04:00:42","date_gmt":"2022-05-30T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/"},"modified":"2022-05-30T04:00:42","modified_gmt":"2022-05-30T04:00:42","slug":"rip-gold-tenders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/","title":{"rendered":"RIP gold tenders?"},"content":{"rendered":"

<\/a> The Oil Ministry will not launch new tenders to explore for gold<\/strong> and will instead move to the direct awarding of concessions after low turnout for this year\u2019s bid round, Bloomberg Asharq<\/a> reports, citing a ministry source. Fewer private firms bid in this year\u2019s tender than in the 2020 bid round due to fallout from the covid-19 pandemic and a lack of \u201cpromising\u201d areas on offer, the source said.<\/p>\n

The results of the latest bid round were announced last week: <\/strong>Four miners<\/a> landed licenses to explore for gold in the Eastern Desert: Ankh Resources<\/a>, Sawiris-backed Akh Gold<\/a>, Canadian miner Lotus Gold<\/a>, and Marine Logistic. Enterprise has not been able to ascertain how many companies submitted bids.<\/p>\n

The tender system never quite got off the ground: <\/strong>Eleven companies<\/a> were awarded 82 gold exploration blocks in the Eastern Desert under the ministry\u2019s first tender, launched in 2020. At the time, the ministry said it hoped to launch new tenders every four months.<\/p>\n

Why aren\u2019t private firms rushing to our gold? <\/strong>Major international exploration firms prefer other African markets over Egypt, citing a lack of facilities or an attractive regulatory environment here, former Centamin boss Youssef Al Raghy was quoted by Asharq as saying. Al Raghy praised the ministry\u2019s move to ditch the tenders, saying that most countries don\u2019t run bid rounds for gold exploration as they\u2019re \u201cnot suitable\u201d for the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Oil Ministry will not launch new tenders to explore for gold and will instead move to the direct awarding of concessions after low turnout for this year\u2019s bid round, Bloomberg Asharq reports, citing a ministry source. Fewer private firms bid in this year\u2019s tender than in the 2020 bid round due to fallout from […]<\/p>\n","protected":false},"author":1,"featured_media":546818,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8008],"tags":[72,7093,373,371],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-enterpriseam","tag-gold","tag-mining","tag-oil-ministry","wpautop","entry"],"acf":{"mongo_id":"b5813334-46a1-4081-a722-286d52cca8ca","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/395.jpg","photo_position":"above","related_issue":[546803],"teaser":"","voice_url":""},"yoast_head":"\nRIP gold tenders? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIP gold tenders?\" \/>\n<meta property=\"og:description\" content=\"The Oil Ministry will not launch new tenders to explore for gold and will instead move to the direct awarding of concessions after low turnout for this year\u2019s bid round, Bloomberg Asharq reports, citing a ministry source. Fewer private firms bid in this year\u2019s tender than in the 2020 bid round due to fallout from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-30T04:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/395.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"RIP gold tenders?\",\"datePublished\":\"2022-05-30T04:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\"},\"wordCount\":236,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/395.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"gold\",\"mining\",\"Oil Ministry\"],\"articleSection\":[\"Mining\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/rip-gold-tenders\/\",\"name\":\"RIP gold tenders? 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The UK\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546936,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/02\/gold-tenders-still-on-the-table-after-emra-awards-exploration-licenses\/","url_meta":{"origin":546817,"position":2},"title":"Gold tenders still on the table after EMRA awards exploration licenses","author":"enterpriseam admin","date":"2 June 2022","format":false,"excerpt":"More details on the latest gold bid round: Egypt awarded eight gold and mineral exploration licenses in the Eastern Desert to four companies in its latest bid round, the Oil Ministry said in a statement yesterday. Canadian miner Lotus Gold won three blocks, the Sawiris-backed Akh Gold and Marine Logistics\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569500,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/26\/egypt-to-launch-intl-gold-exploration-bid-round-on-15-march\/","url_meta":{"origin":546817,"position":3},"title":"Egypt to launch int\u2019l gold exploration bid round on 15 March","author":"enterpriseam admin","date":"26 February 2020","format":false,"excerpt":"Egypt will launch an international bid round for gold and mineral exploration on 15 March, and will accept bids until 15 July, the Oil Ministry said in a statement (pdf). Investors will bid for exploration in the Eastern Desert over an area totaling 56k sqkm using the block-basis concessions system,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/336.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601099,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/19\/egypts-oil-ministry-is-talking-up-red-sea-natgas-prospects-ahead-of-new-contract-terms-ep-bid-round\/","url_meta":{"origin":546817,"position":4},"title":"Egypt\u2019s oil ministry is talking up Red Sea natgas prospects ahead of new contract terms, E&P bid round","author":"enterpriseam admin","date":"19 February 2019","format":false,"excerpt":"The oil ministry is talking up Red Sea natgas prospects ahead of new contract terms, E&P bid round: Data from oilfield services company Schlumberger\u2019s seismic mapping of energy and mineral resources in the Red Sea how areas with a 70% chance of making natural gas discoveries, a source from the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":644965,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/oil-ministry-planning-second-gold-exploration-tender-for-2017\/","url_meta":{"origin":546817,"position":5},"title":"Oil Ministry planning second gold exploration tender for 2017","author":"enterpriseam admin","date":"9 July 2017","format":false,"excerpt":"Oil Ministry planning second gold exploration tender for 2017: The Oil Ministry is planning another gold exploration tender for 2017 \u2014 it\u2019s second this year after last April\u2019s offering. Oil Minister Tarek El Molla tells Youm7 that the ministry has prepared a list of new concessions that will be offered,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546817"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546817\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546818"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546817"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546817"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}