Global S&T Development Trend Analysis Platform of Resources and Environment
Altus to kick off gold exploration in Egypt | |
admin | |
2021-01-25 | |
发布年 | 2021 |
语种 | 英语 |
国家 | 国际 |
领域 | 地球科学 |
正文(英文) | ![]() Egypt’s Eastern desert by the Red Sea. (Image courtesy of Wikimedia Commons.)
Altus Strategies (LON: ALS) (TSX-V: ALTS) is expanding its African footprint into Egypt after securing a string of gold exploration licenses in the country’s Eastern Desert. The British junior said the Egyptian Mineral Resource Authority (EMRA) had granted the permits to the company’s subsidiary, Akh Gold. The move is part of the country’s push to attract foreign capital into the sector, which included new regulations and a first round of international licensing bids, kicked off last year. Altus’ decision to expand into the north east African nation follows a strategic investment by Egyptian-owned private gold investment firm La Mancha, which bought 35% of the company in February 2020. “It also reflects our belief in the substantial investment opportunity present in the country and is in line with our strategy to continue to grow our diversified portfolio of projects and royalties,” chief executive Steven Poulton said in the media statement.
The company is currently working with the mineral resource authority on definitive exploration license agreements, which will trigger the first phase of gold exploration in the Eastern Desert. Open for businessEgypt’s previous system of royalties and profit-sharing agreements made it difficult and unprofitable for miners to explore for and exploit minerals. The fresh rules eliminated the need for miners to form joint ventures with the government and limited state royalties to a maximum of 20%. Unlike Egypt’s natural gas sector, the country’s mineral wealth remains largely under-explored and undeveloped. It has only one commercial gold mine, Centamin’s (LON:CEY) (TSX:CEE) Sukari, which contributes up to $900 million a year to the nation’s gross domestic product. Egypt, which links northeast Africa with the Middle East, has targeted $1 billion in new investments in the mining and energy sectors by 2030.
|
URL | 查看原文 |
来源平台 | Minging.com |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/311633 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Altus to kick off gold exploration in Egypt. 2021. |
条目包含的文件 | 条目无相关文件。 |
个性服务 |
推荐该条目 |
保存到收藏夹 |
查看访问统计 |
导出为Endnote文件 |
谷歌学术 |
谷歌学术中相似的文章 |
[admin]的文章 |
百度学术 |
百度学术中相似的文章 |
[admin]的文章 |
必应学术 |
必应学术中相似的文章 |
[admin]的文章 |
相关权益政策 |
暂无数据 |
收藏/分享 |
除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。
修改评论