{"id":561871,"date":"2021-04-25T04:00:37","date_gmt":"2021-04-25T04:00:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/"},"modified":"2021-04-25T04:00:37","modified_gmt":"2021-04-25T04:00:37","slug":"altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/","title":{"rendered":"Altus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt"},"content":{"rendered":"

<\/a> Altus Strategies could invest as much as USD 200 mn in Egypt if it makes a <\/strong>commercially viable discovery in its new gold exploration concessions<\/strong>, Reuters<\/a> reports. Akh Gold, a subsidiary of the Naguib Sawiris-backed company, landed four exploration licenses for nine blocks in the Eastern Desert in February<\/a> and expects to spend several mn USD on exploration activities. The company will expand its technical team and conduct remote sensing and mapping operations in its concessions, it told the newswire. The UK-based company was awarded the licenses as part of a gold exploration tender the Egyptian Mineral Resources Authority (EMRA) launched in March of last year<\/a> which saw 82 exploration blocks given to 11 companies.<\/p>\n

\u201cTop-tier potential\u201d:<\/strong> Egypt could become one of the continent\u2019s gold hotspots should a few of the companies make commercial discoveries, Altus\u2019 CEO Steven Poulton told Reuters. \u201cIf you get to a point where several discoveries are made, Egypt could be one of the largest gold producers in Africa \u2026 It had top-tier potential,\u201d he said.<\/p>\n

Does EMRA need to make more changes to its mining regs?<\/strong> Amendments to the Mineral Resources Act, approved in 2019<\/a>, have received plenty of praise from investors for offering friendlier terms, including scrapping an unpopular royalty-sharing system. However, Nordana Chairman Sami El Raghy (Centamin\u2019s founder and former chairman) suggests that continuing to rely on tenders for concessions \u201climits the chances of any gold boom,\u201d and that \u201csuccessful mining countries\u201d operate on a first come, first served basis. According to Raghy, these countries set up a framework with qualification standards and investor rights, and investors pour in accordingly.<\/p>\n

We\u2019ll know soon enough:<\/strong> Oil Minister Tarek El Molla has said that Egypt will issue a new gold exploration tender every four months<\/a>, but it is unclear when the next tender is scheduled to kick off.<\/p>\n","protected":false},"excerpt":{"rendered":"

Altus Strategies could invest as much as USD 200 mn in Egypt if it makes a commercially viable discovery in its new gold exploration concessions, Reuters reports. Akh Gold, a subsidiary of the Naguib Sawiris-backed company, landed four exploration licenses for nine blocks in the Eastern Desert in February and expects to spend several mn […]<\/p>\n","protected":false},"author":1,"featured_media":561872,"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":[7272],"tags":[1945,1988,2121,72,7093,125,3688,373],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-akh-gold","tag-altus-strategies","tag-egyptian-mineral-resources-authority","tag-enterpriseam","tag-gold","tag-investment-watch","tag-mineral-resources-act","tag-mining","wpautop","entry"],"acf":{"mongo_id":"a2206ca8-bcfd-42c4-8962-055f38f76ebd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/250.jpg","photo_position":"above","related_issue":[561858],"teaser":"","voice_url":""},"yoast_head":"\nAltus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt - 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\/2021\/04\/25\/altus-akh-gold-could-invest-usd-200-mn-if-it-strikes-gold-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altus\u2019 Akh Gold could invest USD 200 mn if it strikes gold in Egypt\" \/>\n<meta property=\"og:description\" content=\"Altus Strategies could invest as much as USD 200 mn in Egypt if it makes a commercially viable discovery in its new gold exploration concessions, Reuters reports. 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Altus Strategies had said last month that it expected to be awarded licenses for the blocks shortly, after\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":559568,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/26\/of-gold-exploration-and-taking-advantage-of-turkey-on-citrus-exports\/","url_meta":{"origin":561871,"position":1},"title":"Of gold exploration and taking advantage of Turkey on citrus exports","author":"enterpriseam admin","date":"26 January 2021","format":false,"excerpt":"Altus Strategies subsidiary Akh Gold expects to land an unspecified number of gold exploration licenses in the Eastern Desert from the Egyptian Mineral Resources Authority, according to a company statement. The UK-based mining firm was one of 11 companies to land exploration rights to 82 concession blocks in the Eastern\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/327.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558834,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/29\/sawiris-likes-chilean-copper\/","url_meta":{"origin":561871,"position":2},"title":"Sawiris likes Chilean copper","author":"enterpriseam admin","date":"29 August 2021","format":false,"excerpt":"Sawiris\u2019 Altus to take a stake in Chilean copper mine: Naguib Sawiris-backed mining firm Altus Strategies has completed the first close on an agreement that would see it take a 0.42% stake in the net smelter return royalty of Chile\u2019s Caserones Copper Mine, the company said in a statement today.\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\/2021\/8\/288.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546899,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/01\/altus-strikes-gold\/","url_meta":{"origin":561871,"position":3},"title":"Altus strikes gold","author":"enterpriseam admin","date":"1 June 2022","format":false,"excerpt":"Sawiris-backed Altus Strategies has made multiple \u201chigh grade\u201d gold discoveries across the four projects held by its Egypt subsidiary Akh Gold, it said in a statement yesterday. The company has mapped more than 100 hard artisanal gold workings with grades of up to 100g of gold per ton, it said,\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\/2022\/6\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566876,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/26\/sawiris-la-mancha-transforms-into-mining-fund\/","url_meta":{"origin":561871,"position":4},"title":"Sawiris\u2019 La Mancha transforms into mining fund","author":"enterpriseam admin","date":"26 July 2021","format":false,"excerpt":"Sawiris-run La Mancha is transforming itself into a USD 1.4 bn mining fund that includes all of La Mancha\u2019s current gold mining assets as well as a USD 100 mn contribution from an unnamed strategic investor, the firm said in a press release (pdf). The announcement came as La Mancha\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/460.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563910,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/la-mancha-fund-aims-to-raise-usd-300-400-mn-investments\/","url_meta":{"origin":561871,"position":5},"title":"La Mancha fund aims to raise USD 300-400 mn investments","author":"enterpriseam admin","date":"28 July 2021","format":false,"excerpt":"La Mancha\u2019s fund targets USD 300-400 mn contributions: Sawiris-run La Mancha is open accepting new investors in its new USD 1.4 bn mining fund, aiming to attract investments worth USD 300-400 mn, Chairman Naguib Sawiris told Al Arabiya in a phone interview yesterday (watch, runtime 7:19). The company announced this\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/280.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561871","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=561871"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561871\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561858"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561872"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561871"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561871"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}