Sharkawy and Sarhan played a crucial role in advising Aton Resources Inc. (Aton), a Canadian company, on securing a 20-year exploitation lease for gold ore and associated minerals in the Abu Marawat area of the Eastern Desert. The milestone was marked with the signing of the lease at the Ministry of Petroleum in Egypt, attended by dignitaries including His Excellency Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources.
The recent agreement, signed between Aton Resources Inc. and the Egyptian Mineral Resources Authority (EMRA), is a significant achievement following Aton’s successful commercial gold discoveries in Hamama West and Rodruin. The Abu Marawat Concession, spanning approximately 58 square kilometers, is now under the exclusive exploitation rights of Aton Resources Inc.
Key highlights of the exploitation license include the recognition of commercial discoveries at the Hamama and Rodruin projects, marking a pivotal moment in the company’s ventures. The 20-year exploitation period, extendable for an additional 10 years, covers two sectors totaling 57.66 square kilometers, encompassing the Hamama West and Rodruin mineral deposits.
Aton Resources Inc. is set to establish a Joint Venture company, equally owned by Aton and EMRA, to operate the exploitation lease. The company is obligated to initiate commercial gold production from the concession within four years of the establishment of the exploitation lease.
Sharkawy and Sarhan’s Mineral Resources practice, led by Partner Heba Anwar Raslan (pictured) and supported by Associate Farah Hatem, played a pivotal role in facilitating the agreement, positioning Aton Resources Inc. as the first international company to receive such an exploitation license for gold in Egypt since 2005.