Canadian miner Barrick Gold wins 4 gold mining contracts in Egypt

Egypt has awarded Canadian mining company Barrick 4 gold exploration contracts for a total investment of $8.8 million, reports say.
Per the tender launched by the Oil ministry, Barrick will search for gold in 19 blocks in the Eastern Desert.
The investment is the first by the company on its own in the Arab Republic. Barrick Gold was one of 11 companies that was awarded 82 exploration blocks in Egypt in an international bid round in 2020, Arab Finance reports.
Egypt in July signed four gold exploration contracts with Canadian miner B2Gold and Australian gold miner and Sukkari operator Centamin, with investments exceeding $17 million.
In February, Naguib Sawiris-backed Akh Gold, Red Sea Resources, the North Africa Mining and Petroleum Company (NAMC), and Al Abadi Mining signed a deal worth $11 million for 10 exploration contracts with the Egyptian government.