Arab Finance: The Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti penned a model agreement to exploit gold ore and associated minerals in certain areas of Egypt’s Eastern Desert, according to a statement.

Minister of Petroleum and Mineral Resources Karim Badawi highlighted that this deal marks a new beginning for the mining sector, and will open horizons for other international mining companies to inject new investments in the exploitation of gold and associated minerals.

On her part, Hoda Mansour, Managing Director and Vice Chairman of the Sukari Gold Mine (SGM) and the representative of AngloGold Ashanti in Egypt, lauded the developments in the Egyptian mining sector and the efforts of EMRA and the Petroleum ministry in easing obstacles for the company and investors to accelerate operations.

Mansour affirmed that the agreement represents a new phase in expanding AngloGold Ashanti’s investments in Egypt.

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