Egypt Draws New Mining Investments to Boost Gold Output

Egypt is attracting fresh mining investments as several companies advance exploration projects to confirm commercial gold deposits. Driven by high bullion prices, the nation aims to significantly increase annual production by 2030.

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Rocks are seen at Abu Zawal, a crumbling ancient Roman fort and an abandoned 20th century British mine, in the Eastern Desert near the southern province of Luxor, Egypt May 20, 2016. REUTERS/Amr Abdallah Dalsh

Egypt's mining sector drew hundreds of millions of dollars in planned investments this week as explorers target Gold and other minerals. Surging bullion prices and regulatory overhauls are breathing new life into one of the continent's most under-explored resource markets. The push aims to accelerate commercial output and lift the industry's modest economic contribution.

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