Egypt has launched an international auction for gold exploration in its Eastern Desert, which it says is rich in several minerals.
State-owned Shalateen Mining Company launched the action for exploration in five sites in the Eastern Desert, the Arabic language daily Addustour said on Friday.
It quoted the firm as saying in a statement:”Shalateen invites international mining companies to participate in the auction to explore gold and associated minerals under a production-sharing system.”
The statement said companies could obtain terms and specifications brochures from Monday at the firm’s head office or through its website, adding that only financially and technically capable firms with relevant experience can take part in the auction.
(Writing by Nadim Kawach; Editing by Anoop Menon)