Egypt signs 10 new gold exploration contracts

The Egyptian Minister of Petroleum Tarek El Molla said that the awarding of the contract to AKH was a positive sign as the company has extensive experience in mining activities around the world. (AFP/File Photo)
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Updated 18 February 2021
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Egypt signs 10 new gold exploration contracts

  • The agreement focuses on potential gold extraction in nine sectors in the Eastern Desert, according to a statement from the Ministry of Petroleum and Mineral Resources

CAIRO: Egypt has signed ten gold exploration contracts with four companies, worth a combined value of $11.2 million.

The signing included four contracts with AKH Gold, a company affiliated with Egyptian businessman Naguib Sawiris, with a total investment of about $4.1 million. The agreement focuses on potential gold extraction in nine sectors in the Eastern Desert, according to a statement from the Ministry of Petroleum and Mineral Resources.

After the signing, Sawiris said that the new mining law and its executive regulations gave incentives for international and Egyptian mining companies.

Sawiris emphasized that Egypt possesses large mineral resources that will be important to support the national economy, and praised the efforts of the Ministry of Petroleum and Mineral Resources in developing the mining sector.

The Egyptian Minister of Petroleum Tarek El Molla said that the awarding of the contract to AKH was a positive sign as the company has extensive experience in mining activities around the world.

The minister said the success of the first auction in November was a strong indication of the continued development of the country’s mining sector.

The minister also signed three contracts with the Canadian company Red Sea Resources, to mine for gold in five areas, with a total investment of about $5.5 million.

The Mineral Resources Authority has also signed two contracts worth $1 million with the North Africa Mining and Petroleum Co., and a fourth contract worth $636,000 with the Obaid Al Abdi Contracting Co.

The authority had previously signed five contracts for gold research and exploration as part of the winning bids, with total investments estimated at $13 million. The contracts were with the Canadian Lotus Gold Co., the Egyptian company Mining and Manufacturing Co. (MEDAF), and the Egyptian Ebdaa for Gold Mining Co.


Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

A Harvard sign is seen at the Harvard University campus in Boston, Massachusetts, on May 27, 2025. (AFP)
Updated 10 February 2026
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Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

  • The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts

RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.

The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.

Al-Nobala has leveraged international expertise to localize advanced learning methodologies.

The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.

According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.

“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.

The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.

Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.

Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.