Minister of Petroleum and Mineral Resources Tarek El Molla has attended the founding assembly of the Abu Marawat Gold Mines Company as a joint venture (JV) between the Egyptian Mineral Resources Authority (EMRA) and the Canadian company Aton Resources.

The establishment of the JV is an important step to carry out exploration and exploitation work for gold in the Abu Marawat region in the Eastern Desert, in which the Canadian company invests in searching for and exploiting gold and associated minerals.

It is noteworthy that the establishment of the new company marks the beginning of work to exploit the commercial gold discovery achieved in the Hamama and West Rodruin regions within the Abu Marawat concession.

This comes as an implementation of the contract signed between EMRA and Aton Resources for the exploitation of gold ore and minerals discovered in an area estimated at approximately 57.6 km2.

Extractable reserves are estimated at approximately 134,900 ounces of gold and 1.4 million ounces of silver.

During the general assembly, the company’s business plan was approved during the coming period in the Abu Marawat region.