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Aton Resources Makes Application for aexploitation Lease at Hamama in Egypt

Mining News - Published on Fri, 15 Nov 2019

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Aton Resources Inc announced that, in accordance with its Abu Marawat Concession Agreement, between Aton and the Egyptian Government, the Company has submitted its application for an exploitation lease at Hamama and this is being processed by the relevant authorities, including the Egyptian Mineral Resources Authority and The Ministry of Petroleum. This is a formal process mandated by the existing Egyptian legal and regulatory regime as part of maintaining the Company's rights to explore and develop deposits on the Concession.

Mr Mark Campbell, President and CEO said "The formal application for an exploitation lease at Hamama is yet another milestone achieved. Over the past seven years, including 3 years of Force Majeure during the turbulent period, we have been working at Hamama and made steady progress in exploring and expanding the Hamama Deposit. This application is the first time we have been able to take the next steps in Egypt, securing our ability to continue our exploration work at our main exploration target at Rodruin and the other 75 targets, including Abu Gaharish, Sir Bakis, Semna and the new Safaga South discovery, and the continued development of the Hamama Deposit, in addition, the Ministry of Petroleum and Mineral Resources and Wood Mackenzie's work on reforming the mining law to make Egypt one of the most attractive exploration investment destinations, will not only benefit Aton, but Egypt and her people, for generations to come."

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Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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