Egyptian law punishes licensee who extracts mineral resources from mines, quarries or Salinas that are outside the limits of his license with a fine of no less than L.E. 100,000 and not exceeding L.E. 5 million.
Currently, the company is working towards the target of producing 400,000 and 430,000 gold bars by the end of 2021.
Minister of Petroleum and Mineral Resources Tarek al-Mulla stated that Egypt will not need to import liquid fuel by 2023.
The Ministry of Petroleum disclosed on Monday the updated version of the National Plan for Petrochemical Industries taking place between 2020 and 2035.
Sources told Egypt Today that 10 companies purchased the applications of the international gold exploration auction announced by Egypt earlier this year.
On the setbacks of a 2014 bill tackling investment in gold mining, amid a recent bid by the government to amend current legislation.
President Abdel Fatah al-Sisi inaugurated the 15 Arab International Mineral Resources Conference taking place on November 26-28.
Minister of Petroleum Tarek El Molla held a meeting with president of Fluor’s Energy & Chemicals business in Europe, Africa and Middle East Al Collins on Wednesday.