Billionaire Naguib Sawiris bets on Egypt’s gold
Egyptian billionaire Naguib Sawiris is backing his country’s drive to develop a gold industry following drastic changes to mining regulations passed last year.
Altus Strategies’ subsidiary AKH Gold, majority owned by Sawiris, has inked four contracts to explore in nine blocks located in the country’s eastern desert.
The agreements, which will see AKH Gold invest around US$4.1 million in exploration, were among ten 10 new contracts for gold exploration signed on Feb. 17, worth more than US$11 million,
The businessman’s love for gold is not a secret. Last year, he increased his exposure to the metal as the traditional haven struggled amid the market turmoil triggered by the first wave of Covid-19.
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Aton Resources Inc. Announces the Appointment of Dr. Sherif Sousa as Its Country Manager in Egypt
January 25, 2021 13:19 ET | Source: Aton Resources Inc. Aton Resources Inc. Vancouver, British Columbia, CANADA
VANCOUVER, British Columbia, Jan. 25, 2021 (GLOBE NEWSWIRE) Aton Resources Inc. (TSX-V: AAN) (“Aton” or the “Company”) is pleased to announce the appointment of Dr. Sherif Sousa as its new Egypt Country Manager.
Dr. Sousa has had a storied career in Egypt’s oil & gas and mining industries over the past 40 years. Amongst his many achievements, Dr. Sousa was the first Chairman of the Egyptian Mineral Resources Authority (EMRA), from 2004 to 2006 and was instrumental in the agreement and development of Centamin’s Sukari gold mine. He has also held the following positions: Executive Chairman of MEDAF Mining Company, Chairman and CEO of El Nasr Mining Company, First Undersecretary for Gas Affairs in the Ministry