Egypt on Wednesday signed a preliminary agreement with Canada's Aton Resources to review and amend the terms of the Abu Marawat gold concession. The country seeks to revamp its mining framework and attract fresh foreign investment into the sector. The agreement, signed during the Egypt Mining Forum in Cairo, brings together the Ministry of Petroleum and Mineral Resources, the Mineral Resources and Mining Industries Authority (MRMIA) – formerly the Egyptian Mineral Resources Authority (EMRA) – and Aton Resources, whose flagship project is located in Egypt's Eastern Desert. Petroleum Minister Karim Badawy witnessed the signing, which included Mohamed El Bagoury, Head of Central Administration for Legal Affairs at the ministry; Yasser Ramadan, Chairman of MRMIA; and Tonno Vahk, CEO of Aton Resources. The Abu Marawat concession, located in Egypt's Eastern Desert, is one of the country's most promising exploration zones and has been a key focus of Aton Resources' investment in recent years. Amendments under discussion aim to update the concession structure, potentially offering more competitive terms for development and production. The move reflects Egypt's broader strategy to raise the mining sector's contribution to GDP—currently below 1 per cent—to between 5 per cent and 6 per cent over the coming years. That includes overhauling legacy agreements, streamlining licensing procedures, and updating fiscal terms to align with global standards. Attribution: Amwal Al Ghad English Reporting: Aya Anwar Writing: Y.Yasser Subediting: Y.Yasser
