60 firms bid for gold hunting in Egypt

Egypt has closed bidding for the exploration of gold in 31 various sites after 60 companies applied for obtaining permits.

Shalateen Mineral Resources Company (SMRC), an affiliate of the Petroleum and Mineral Resources Ministry, had invited bids for the 31 sites in several areas of Egypt in early January, according to the Arabic language daily Addustour.

“SMRC has closed bidding for the exploration of gold in 31 sites it manages…60 companies have applied, and 85 terms and conditions documents have been sold,” the paper said, quoting a Company statement.

According to the statement, Shalateen’s gold production is projected to surpass 10 tonnes in 2027.