{"id":566901,"date":"2021-07-27T13:56:51","date_gmt":"2021-07-27T13:56:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/canadas-barrick-inks-four-gold-exploration-contracts\/"},"modified":"2021-07-27T13:56:51","modified_gmt":"2021-07-27T13:56:51","slug":"canadas-barrick-inks-four-gold-exploration-contracts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/canadas-barrick-inks-four-gold-exploration-contracts\/","title":{"rendered":"Canada\u2019s Barrick inks four gold exploration contracts"},"content":{"rendered":"

<\/a> Canadian miner <\/strong>Barrick Gold<\/a><\/strong> has inked four gold exploration contracts with a combined <\/strong>USD 8.8 mn<\/strong> with the Oil Ministry, according to a ministry statement<\/a>, which said this is the Toronto-listed miner\u2019s first investment in Egypt. According to the terms of the agreement, Barrick will search for and mine gold in 19 new exploration blocks across the Eastern Desert. The contracts were signed under last year\u2019s Oil Ministry tender<\/a>, which awarded eleven mining companies the rights to 82 gold exploration blocks in the Eastern Desert. Reuters<\/a> also had the story.<\/p>\n

Who else is digging for gold? <\/strong>Earlier this month<\/a>, the government signed four gold exploration contracts with Canadian miner B2Gold and Australian gold miner and Sukkari operator Centamin, with investments exceeding USD 17 mn. Last February<\/a>, the government signed 10 gold exploration contracts worth a combined USD 11 mn with four mining companies: Naguib Sawiris-backed Akh Gold, Red Sea Resources, the North Africa Mining and Petroleum Company (NAMC), and Al Abadi Mining. In January<\/a>, five other contracts worth a combined USD 13 mn were signed with three companies: Canada\u2019s Lotus Gold, Mining and Manufacturing Company (MEDAF), and Egypt\u2019s Ebdaa for Gold.<\/p>\n

Still in the pipeline: <\/strong>UK\u2019s firm SRK also received exploration awards from the tender, but seems to be the only one left that is yet to sign a contract.<\/p>\n

Background:<\/strong> The contracts were signed under the first tender to be launched since amendments<\/a> to the Mineral Resources Act offering investors more attractive terms<\/a>. The blocks have been awarded on two-year exploration licenses<\/a> that can be renewed either two or three times depending on the circumstances.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian miner Barrick Gold has inked four gold exploration contracts with a combined USD 8.8 mn with the Oil Ministry, according to a ministry statement, which said this is the Toronto-listed miner\u2019s first investment in Egypt. According to the terms of the agreement, Barrick will search for and mine gold in 19 new exploration blocks […]<\/p>\n","protected":false},"author":1,"featured_media":566902,"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":[10179],"tags":[4135,3445,633,7093,373,371,4265],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-natural-resources","tag-b2gold","tag-barrick-gold","tag-enterprisepm","tag-gold","tag-mining","tag-oil-ministry","tag-speed-round-natural-resources","wpautop","entry"],"acf":{"mongo_id":"fcd83442-d546-435e-8a46-af2336d4a430","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/473.jpg","photo_position":"above","related_issue":[566893],"teaser":"","voice_url":""},"yoast_head":"\nCanada\u2019s Barrick inks four gold exploration contracts - 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\/07\/27\/canadas-barrick-inks-four-gold-exploration-contracts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canada\u2019s Barrick inks four gold exploration contracts\" \/>\n<meta property=\"og:description\" content=\"Canadian miner Barrick Gold has inked four gold exploration contracts with a combined USD 8.8 mn with the Oil Ministry, according to a ministry statement, which said this is the Toronto-listed miner\u2019s first investment in Egypt. 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The companies are expected to be from a list of three including Canadian miner Barrick Gold, B2Gold and Australian gold miner and Sukkari operator Centamin.The contracts were\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\/7\/172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590729,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/25\/oil-ministry-reaches-framework-mining-agreement-with-key-gold-players\/","url_meta":{"origin":566901,"position":1},"title":"Oil Ministry reaches framework mining agreement with key gold players","author":"enterpriseam admin","date":"25 July 2023","format":false,"excerpt":"The Oil Ministry, Centamin, and Barrick reached agreements on commercial, fiscal, and legal terms","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\/2023\/7\/949.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590282,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/17\/centamin-barrick-to-ink-seven-gold-exploration-licenses\/","url_meta":{"origin":566901,"position":2},"title":"Centamin, Barrick to ink seven gold exploration licenses","author":"enterpriseam admin","date":"17 July 2023","format":false,"excerpt":"The government will receive 50% of the profits from any commercial discoveries","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\/2023\/7\/635.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574786,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/la-mancha-centamin-barrick-gold-among-bidders-in-egypts-gold-mining-tender\/","url_meta":{"origin":566901,"position":3},"title":"La Mancha, Centamin, Barrick Gold among bidders in Egypt\u2019s gold mining tender","author":"enterpriseam admin","date":"22 September 2020","format":false,"excerpt":"La Mancha, Centamin, Barrick Gold among bidders in Egypt\u2019s gold mining tender: Canadian mining firm Barrick Gold, Naguib Sawiris\u2019 La Mancha, and Egypt-focused Centamin are among the companies that have submitted bids in the gold and mineral exploration tender, which closed last week, Al Mal reports. The Egyptian Mineral Resources\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\/9\/235.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576362,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/11-companies-awarded-82-gold-exploration-blocks-in-govt-tender\/","url_meta":{"origin":566901,"position":4},"title":"11 companies awarded 82 gold exploration blocks in gov\u2019t tender","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"The results of Egypt\u2019s latest gold + mineral exploration auction are here: Eleven mining companies have been awarded 82 gold exploration blocks in the Eastern Desert under an Oil Ministry tender launched earlier this year, Minister Tarek El Molla said in a statement on Thursday. The winners include seven foreign\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\/11\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569911,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/11\/oilmin-slashes-rental-fees-on-gold-exploration-blocks-in-a-bid-to-lure-investors\/","url_meta":{"origin":566901,"position":5},"title":"OilMin slashes rental fees on gold exploration blocks in a bid to lure investors","author":"enterpriseam admin","date":"11 March 2020","format":false,"excerpt":"Oil Min slashes rental fees on gold exploration blocks in a bid to lure investors: The Oil Ministry will cut rental fees on gold exploration blocks by 80% as it tries to persuade international investors to bid in its upcoming mining tender, the local press reported citing unnamed sources. 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