Egypt’s government has awarded five new gold exploration contracts to three mining companies. These include Canada’s Lotus Gold, U.S. group 3M, and Egyptian gold miner Ebdaa.
The signed deals are worth a total of EGP 204.4 (US$13 million), accord-ing to the information obtained by local news site ArabFinance.com.
Last year, the country's government said it was aiming to attract signifi-cant investments by foreign mining businesses in the coming years. By 2030, such investments are expected to total up to US$1 billion.