The Egyptian Ministry of Petroleum announced today, Thursday, that it has reached an agreement with mining companies Barrick Gold and Centamin regarding the commercial, financial, and legal conditions for exploiting gold and related minerals in several awarded concession areas.
Centamin stated in a separate statement that exploitation licenses under a stable financial and legal system lasting 30 years will be issued according to the framework of the Model Agreement for Mineral Exploitation.
The company added that the framework does not apply to the gold mining concession of Sukari, which covers an area of 160 square kilometers and operates independently under the Sukari concession agreement.
