Cairo - Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of four gold exploration deals between the Egyptian Mineral Resources Authority (EMRA) and Canada's Barrick Gold Corporation, the world's second-largest gold miner by reserves.

Under the deals, the Canadian firm will be investing in the mining and gold exploration sector in Egypt for the first time, according to a statement by the Ministry of Petroleum on Tuesday. 

Barrick Gold Corporation will explore for gold in 19 new blocks in the Eastern Desert with estimated investments of $8.8 million after winning an international tender launched by the ministry in 2020. 

Founded in 1978, Barrick Gold has mining operations in Canada, Australia, Argentina, and Zambia, among others.