AngloGold Ashanti to Explore 19 New Gold Areas
AngloGold Ashanti, the world's fourth-largest gold mining company, has announced a plan to invest in 19 new areas in the Eastern Desert of Egypt, covering an area of over 3,000 square kilometers, with the aim of exploring for gold. This announcement was made during the Egypt Mining Forum 2026, inaugurated by President Abdel Fattah El-Sisi, where officials praised the government's reforms to improve the investment climate, enhance exploration, and develop Egypt's mining sector. The company's CEO also revealed the allocation of substantial budgets for exploration activities in these new regions, focusing on modern technologies such as satellite imaging and geophysical surveys, in order to achieve new discoveries and increase production at the larger mine, the Sukkari mine, which has produced over 6.8 million ounces since 2009 and contributed over $590 million in revenue in a single year. This demonstrates that Egypt has significant geological potential, a solid infrastructure, and is an attractive environment for long-term investments in the mining industry.
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