Business news

Naguib Sawiris gets gold prospecting contracts in Egypt

The Egyptian General Authority for Mineral Resources signed 10 contracts with 4 English, Canadian and Egyptian companies to exploit 17 new sectors for gold research and exploration, with total investments of about $ 11.2 million.

Among the companies that have been signed with is AKH Gold, owned by Egyptian billionaire Naguib Sawiris, with which 4 contracts have been signed with a total investment of about $ 4.1 million for gold research and exploration in 9 sectors of the Eastern Desert.

Bid gold
These contracts were signed within the first global bid by the Egyptian Ministry of Petroleum in 2020 to search for gold, the results of which appeared last November and resulted in 11 companies winning.

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