Egypt’s Ministry of Oil has revealed in a statement that four new gold exploration contracts have been signed with Canadian miner, Barrick Gold Corporation.
Under the contracts, Barrick Gold Corp will explore gold for the first time in Egypt across 19 new blocks in the Eastern Desert with investments totalling $8.8 million.
Khaled Al-Sheshtawy, Chairman of the state-run Egyptian Mineral Resources Authority (EMRA), signed the deal with Joel Holliday – SVP Global Exploration at Barrick Gold Corporation, via a videoconference.
Barrick Gold Corporation is the one of the biggest pure gold mining companies in the world. The corporation is particularly engaged in the production and sale of gold, copper, and related activities like exploration and mine development.
The corporation’s gold mines are located in Argentina, Canada, Cote d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States while copper mines are located in Zambia, Chile, and Saudi Arabia.