Egypt has extended by 60 days the deadline to participate in the latest international tender for exploration licenses as the North African country struggles with a second wave of the coronavirus pandemic, with new daily cases on the rise after experiencing a sharp decline in January.
Investors now have until May 15 to bid on blocks that will be awarded to the winning companies by September 15 at the latest.
The Egyptian mineral resources authority (EMRA) said the extension seeks to attract new companies and give potential investors more time to come forward.
Egypt hosted its first Mining Day at the Prospectors and Developers Association of Canada (PDAC) convention last year, where it announced upcoming gold bid rounds.
The auctions have so far attracted mining heavyweights as well as juniors.
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