Egypt grants its second mining license in 15 years
(Kitco News) - Aton Resources (TSX-V:AAN) announced yesterday that it was granted an exploitation license from the Egyptian government.
Aton is focused on the Abu Marawat concession, which is located in Egypt’s Arabian-Nubian Shield.
“As only the second mining license to be issued since Centamin’s, this is historic news for Aton and Egypt,” said Mark Campbell, President and CEO. “This not only grants Aton a license for 20 years with an additional 10-year option period, that allows us to get on with the Hamama Development and as well allows us to continue the exploration at Rodruin and our other exploration targets, within our Abu Marawat Concession.
Centamin was granted an exploitation lease over the Sukari Gold Project in 2005.
Ma Sandstorm Gold has a 1.0% NSR royalty on Abu Marawat.
Aton said that three historic British mines are also located on its concession.
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