{"id":569066,"date":"2020-02-12T04:36:10","date_gmt":"2020-02-12T04:36:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/"},"modified":"2020-02-12T04:36:10","modified_gmt":"2020-02-12T04:36:10","slug":"egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/","title":{"rendered":"Egypt to launch international gold exploration tender by the beginning of March"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Egypt to launch international gold exploration tender by the beginning of March:<\/strong> The government will launch an international gold exploration and mining tender for areas in the Eastern Desert by the end of this month or early March, <a href=\"https:\/\/bit.ly\/39rxsrs\">Al Mal reports<\/a>, citing an unnamed source. This will be the first mining tender since the Mineral Resources Act was amended <a href=\"https:\/\/enterprise.press\/stories\/2019\/08\/14\/el-sisi-ratifies-mineral-resources-act-economic-court-act-amendments\/\">last year<\/a> and the first for gold exploration since 2017.<\/p>\n<p><strong>A litmus test for the Mineral Resources Act:<\/strong> Egypt\u2019s last mining tender three years ago was <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-gold-idUSKBN19O1LS\">met by lackluster investor appetite<\/a> due to its uncompetitive commercial terms. Gold mines now will get more favorable terms under <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3c6e281f-e87a-4b3a-8734-fd8eb3f67872\">the executive regulations<\/a> to the amended Mineral Resources Act, which will see mine owners <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49d3a74b-d8a6-4539-9445-8aca2dd62bed\">paying the minimum 5% royalty<\/a> on their annual production. The amendments <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/17\/egypts-mineral-resources-act-gets-thumbs-up-from-investors\/\">have so far received praise<\/a> from investors but the demand for concessions in the upcoming tender will be a better measure of the government\u2019s reform efforts.<\/p>\n<p><strong>The industry as it currently stands:<\/strong> Centamin is currently the only company producing gold in Egypt from its Sukari mine, while <a href=\"https:\/\/www.atonresources.com\">Aton Resources<\/a> and <a href=\"http:\/\/thanistratex.com\">Thani Stratex<\/a><a href=\"http:\/\/thanistratex.com\">Resources<\/a> are still exploring concession areas but are yet to strike gold. Centamin achieved <a href=\"https:\/\/www.centamin.com\/~\/media\/Files\/C\/Centamin\/documents\/press-releases\/2020\/CEY%20RNS_%204Q19%20Quarterly_FINAL_300120.pdf\">an 8% bump in production in 2019 (pdf)<\/a> and plans to increase this figure by at least another 6% to 510k oz this year.<\/p>\n<p><strong>New mining exhibition in the pipeline:<\/strong> Separately, the sources said that the government is preparing for a new conference and exhibition with companies and investors in the mining sector to announce the bid and unveil the most recent developments in the sector before the end of the month. The government will also take part in a similar exhibition in Canada in March.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt to launch international gold exploration tender by the beginning of March: The government will launch an international gold exploration and mining tender for areas in the Eastern Desert by the end of this month or early March, Al Mal reports, citing an unnamed source. This will be the first mining tender since the Mineral [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":569067,"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":[8572],"tags":[413,2569,372,72,4575,7093,373,91,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-569066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-canada","tag-centamin","tag-eastern-desert","tag-enterpriseam","tag-exporation","tag-gold","tag-mining","tag-oil-and-gas","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b91df621-e977-4cd8-b038-59a5f0235172","is_powered_by":true,"section_story_id":"be869e27-b84e-46b9-83a1-d2e27bd01784","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/164.jpg","photo_position":"above","related_issue":[569058],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt to launch international gold exploration tender by the beginning of March - 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\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to launch international gold exploration tender by the beginning of March\" \/>\n<meta property=\"og:description\" content=\"Egypt to launch international gold exploration tender by the beginning of March: The government will launch an international gold exploration and mining tender for areas in the Eastern Desert by the end of this month or early March, Al Mal reports, citing an unnamed source. This will be the first mining tender since the Mineral [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-12T04:36:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/164.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\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to launch international gold exploration tender by the beginning of March\",\"datePublished\":\"2020-02-12T04:36:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\"},\"wordCount\":291,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/164.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Canada\",\"Centamin\",\"Eastern Desert\",\"EnterpriseAM\",\"Exporation\",\"gold\",\"mining\",\"oil and gas\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/02\/12\/egypt-to-launch-international-gold-exploration-tender-by-the-beginning-of-march\/\",\"name\":\"Egypt to launch international gold exploration tender by the beginning of March - 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Aton will mine for gold in the Eastern Desert\u2019s Hamama region under a 20-year license with\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","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":569066,"position":1},"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 &quot;Speed Round&quot;","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":574786,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/la-mancha-centamin-barrick-gold-among-bidders-in-egypts-gold-mining-tender\/","url_meta":{"origin":569066,"position":2},"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 &quot;Speed Round&quot;","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":569066,"position":3},"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 &quot;Speed Round&quot;","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":547099,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/shalateen-mining-to-launch-international-gold-tender-for-at-least-five-eastern-desert-concessions\/","url_meta":{"origin":569066,"position":4},"title":"Shalateen Mining to launch international gold tender for at least five Eastern Desert concessions","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"Shalateen\u2019s gold areas up for grabs: State-owned Shalateen Mining Company plans to launch an international gold and minerals exploration auction for at least five areas in the Eastern Desert in the coming weeks, Bloomberg Asharq reported Monday, citing sources it says are in the know. The company has already sent\u2026","rel":"","context":"In &quot;Mining&quot;","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569325,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/centamin-to-consider-bidding-on-the-mineral-resources-authoritys-upcoming-tender\/","url_meta":{"origin":569066,"position":5},"title":"Centamin to consider bidding on the Mineral Resources Authority\u2019s upcoming tender","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"INVESTMENT WATCH- Centamin \"prepared\" to invest more in Egypt\u2019s mining, waiting on details of int\u2019l gold tender: Centamin is waiting on more details on the Mineral Resources Authority\u2019s upcoming international gold exploration and mining tender before deciding whether or not to participate, but is \u201cprepared\u201d to invest more in Egypt\u2019s\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/569066","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=569066"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/569066\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/569058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/569067"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=569066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=569066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=569066"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=569066"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=569066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}