By: Zawya

Egypt has formalized a regulatory amendment to advance a significant gold mining project in the Eastern Desert. On December 24th, Minister of Petroleum and Mineral Resources Karim Badawi oversaw the initialing of a draft amendment to the commitment agreement for the exploration and exploitation of gold and associated minerals in the Abu Marwat area.

The amendment, agreed between the Egyptian Mineral Resources Authority (EMRA) and Canadian firm Aton Mining Inc., establishes an updated financial model designed to attract investment, enhance project viability, and enable commercial development following a viable gold discovery in the region. The minister highlighted ongoing efforts to modernize the mining regulatory framework and streamline investor procedures through EMRA’s one-stop-shop mechanism.

Under the agreement, Aton Mining—which conducted the exploration that led to the discovery—has been granted an exploitation contract covering over 57 square kilometers in the Hamama West and Rudruin areas. An additional retention area of approximately 255 square kilometers has also been allocated. All exploitation activities will be managed by a newly formed entity, Abu Marwat Gold Mines Company, established as a joint venture between EMRA and Aton Mining.