Egypt approves Aton Resources’ Hamama

Egypt has granted Aton Resources a mining licence for its Hamama development project – the second time in a decade that the government has greenlighted a mine since Centamin’s Sukari gold mine started commercial production in 2010. The 20-year mining licence can be renewed for an additional ten years. The Hamama project in Egypt’s Eastern Desert includes the Hamama West deposit and is situated about 35 km to the southwest of the company’s other major deposit, Abu Marawat. Both deposits are on Aton’s 600-sq.-km Abu Marawat concession in Egypt’s Arabian-Nubian Shield, 200 km north of Centamin’s Sukari mine, which produces about 500,000 oz. gold a year. The licence approval “underscores Egypt’s new commitment to developing its exploration and mining sector,” Aton CEO Mark Campbell said in a statement. “Egypt is a country that is blessed by having huge untapped mineral potential, not only in gold, but across all precious, base and industrial minerals, along with having world-class infrastructure, a great pool of skilled and semi-skilled labour, all within a strong and stable country.” Continue reading at The Northern Miner.