Arab Finance: Egypt is intending to launch an international bid in the fourth quarter (Q4) of this year to prospect and explore for mineral ores in several areas in the eastern and western deserts, Asharq Business reported on July 18th, citing unnamed sources familiar with the matter.

The anticipated bid is set to include more than 200 areas, each on an area of not less than 16 square kilometers, one of the sources said.

The bidding will be based on royalties, taxes, and the percentage of free participation of the Egyptian Mineral Resources Authority (EMRA) in production, the source added.

It is noteworthy that Egypt targets attracting investments of up to $1 billion in the mining sector.

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