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Egypt grants its second mining license in 15 years

Kitco News

(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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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