Egyptian Ministry of Petroleum and Mineral Wealth Unveiled Preparations for Conducting the First Strategy to Develop the Mining Sector in Egypt
VANCOUVER, British Columbia, April 04, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSX-V:AAN) (“Aton” or the “Company”) is pleased to update its investors on recent developments in Egypt, regarding development of the mining sector in Egypt.
On March 23, 2018, Egypt’s State Information Service published the following:
PETROLEUM MINISTRY GEARING UP FOR FIRST STRATEGY TO DEVELOP MINING SECTOR
Petroleum Minister Tarek el Molla unveiled preparations for conducting the first strategy to develop the mining sector in Egypt to optimize the country's benefit from mineral wealth.
The step comes as part of the 2030 Egypt Strategy for Sustainable Development, the minister said.
Molla made the remarks during his attendance of the signing of a contract to start the first stage of the strategy project.
The contract was signed by Egypt's Enppi company and Wood Mackenzie company, a global energy, chemicals, renewables, metals and mining research and consultancy group with an international reputation for supplying comprehensive data, written analysis and consultancy advice.
The strategy includes setting up mining industries and developing areas surrounding mining activities, Molla said. It aims at increasing the mining sector's contribution to the Gross Domestic Product and the country's economic and social development plans.
He noted that the current contribution of mining activities to the GDP does not level up to the tremendous mining capabilities the country is abundant with.
Under the contract, Wood Mackenzie will study the mining sector in Egypt and lay out an appropriate development strategy by August. Enppi Company will offer needed logistic and technical support for the consultancy group.
For more information, go to the Egyptian Government’s official website at:
http://www.sis.gov.eg/Story/127069?lang=en-us
Aton Resources welcomes this news and supports any efforts by the Government of Egypt to develop the mining sector to optimize the country’s benefit from its mineral wealth.
“With the Egyptian governments’ economic reforms and growth strategy steadily progressing, the development of Egypt’s mineral resources can be a cornerstone in the country’s economic growth,” says Mark Campbell, President and CEO. “Any move to make mining in Egypt attractive for all stakeholders and to boost investment into this important sector, will benefit both Egypt and its people.”
About Aton Resources Inc.
Aton Resources Inc. (TSX-V:AAN) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”), located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s Sukari gold mine. Aton has identified a 40 km long gold mineralized trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of RIRG and orogenic gold mineralization, VMS precious and base metal mineralization, and epithermal-IOCG precious and base metal mineralization. Abu Marawat is over 738km2 in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity.
For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:
Mark Campbell
President and Chief Executive Officer
Tel: +202-27356548
Email: mcampbell@atonresources.com
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