• Lotus Gold, a Canadian company, successfully concludes gold exploration contracts worth $2.5 million with the Egyptian Mineral Resources Authority (EMRA), as announced by the Egyptian Ministry of Petroleum and Mineral Resources.
• Minister of Petroleum Tarek El-Molla takes a keen interest in overseeing the advancement of business initiatives related to AKH Gold and Ebdaa Gold Mine in Egypt, showcasing active government involvement in the country’s mining sector.
• This collaboration reflects Egypt’s dedication to fostering a sustainable mining industry by embracing modern technologies and advanced laboratories, a crucial step towards achieving greater self-sufficiency in the sector.
Lotus Gold, a Canadian entity, signed gold exploration contracts valued at $2.5 million with the Egyptian Mineral Resources Authority (EMRA), according to a statement from the Egyptian Ministry of Petroleum and Mineral Resources.
Minister of Petroleum Tarek El-Molla actively monitors the progress of business ventures involving AKH Gold and Ebdaa Gold Mine in Egypt.
This strategic collaboration aligns with Egypt’s commitment to developing a sustainable mining industry, incorporating state-of-the-art technologies and advanced laboratories for enhanced localization.
Lotus Gold secured victories in both the initial and subsequent rounds of the international gold bid launched in 2020, claiming seven areas in the first phase.
The company formalized agreements for these areas, delivering them in Q4 of 2021.
Additionally, Lotus Gold emerged successful in securing three sectors during the second phase, leading to the signing of the current agreement.
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