Egypt to Initiate International Bid for Mineral Exploration in Q4 2023

Egypt is set to launch an international bidding process in the fourth quarter of this year to conduct inspections and explore mineral ores in the eastern and western deserts, according to reliable sources on Tuesday.

The upcoming bid will encompass over 200 areas, with each area covering a minimum of 16 square kilometers, as stated by the sources. Prospective bidders will be evaluated based on factors such as royalties, taxes, and the Egyptian Mineral Resources Authority’s (EMRA) share of free participation in production.

The primary objective behind this initiative is for Egypt to attract investments of up to $1 billion in the mining sector. By offering these exploration opportunities, the country aims to tap into its mineral resources potential and encourage international investors to contribute to the growth and development of the industry.

Egypt’s eastern and western deserts are known to hold significant mineral reserves, making them attractive destinations for exploration and extraction. The government’s decision to invite international bids reflects its commitment to unlocking the full potential of its mineral wealth and fostering economic growth through strategic investments.

The international bidding process, expected to take place in the fourth quarter of this year, marks a crucial step for Egypt in its efforts to attract foreign direct investment and further develop its mining sector.



Leave a Reply

Your email address will not be published. Required fields are marked *