{"id":2749,"date":"2026-08-04T02:12:28","date_gmt":"2026-08-03T23:12:28","guid":{"rendered":"https:\/\/dailybusiness.info\/?p=2749"},"modified":"2026-08-04T02:13:54","modified_gmt":"2026-08-03T23:13:54","slug":"capital-limited-is-seeking-nine-gold-blocks-after-years-of-drilling-for-others","status":"publish","type":"post","link":"https:\/\/dailybusiness.info\/?p=2749","title":{"rendered":"Capital Limited is seeking nine gold blocks after years of drilling for others"},"content":{"rendered":"<p>&nbsp;<\/p>\n<div>\n<figure class=\"wp-block-audio mb-0\"><audio src=\"https:\/\/ent.news\/internal\/audio\/polly-719428-1785724663.ca83276e-c8e8-4fc5-82b5-aaf1fc8dcee7.mp3\" preload=\"metadata\" controls=\"controls\"><strong>The drilling contractor for Sukari operator AngloGold Ashanti <span synonyms=\"wants|needs|desires\" class=\"synonym\">needs<\/span> <span synonyms=\"to produce|to supply|to provide\" class=\"synonym\">to provide<\/span> its <span synonyms=\"own|personal\" class=\"synonym\">personal<\/span> gold:<\/strong> UK-listed mining <span synonyms=\"services|providers|companies\" class=\"synonym\">companies<\/span> <span synonyms=\"firm|agency\" class=\"synonym\">agency<\/span> <a href=\"https:\/\/www.capdrill.com\/\" target=\"_blank\">Capital Limited<\/a> is <span synonyms=\"looking to|trying to|seeking to\" class=\"synonym\">seeking to<\/span> <span synonyms=\"secure|safe\" class=\"synonym\">safe<\/span> <span synonyms=\"nine|9\" class=\"synonym\">9<\/span> gold exploration blocks <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> <span synonyms=\"Eastern|Japanese|Jap\" class=\"synonym\">Jap<\/span> Desert, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">based on<\/span> <a href=\"https:\/\/asharqbusiness.com\/economics\/141595\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%A8%D8%B1%D9%8A%D8%B7%D8%A7%D9%86%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D9%84%D9%81%D9%88%D8%B2-%D8%A8-9-%D9%85%D9%86%D8%A7%D8%B7%D9%82-%D9%84%D8%A7%D8%B3%D8%AA%D9%83%D8%B4%D8%A7%D9%81-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1\/\" target=\"_blank\">an unnamed government official<\/a>. The <span synonyms=\"firm|agency\" class=\"synonym\">agency<\/span> plans to leverage its <span synonyms=\"existing|present|current\" class=\"synonym\">present<\/span> footprint as a drilling contractor for AngloGold Ashanti and Canadian junior Aton <span synonyms=\"Resources|Assets|Sources\" class=\"synonym\">Assets<\/span> to transition <span synonyms=\"into a|right into a\" class=\"synonym\">right into a<\/span> direct gold producer in Egypt. The requested blocks are <span synonyms=\"part of|a part of\" class=\"synonym\">a part of<\/span> <span synonyms=\"the government|the federal government\" class=\"synonym\">the federal government<\/span>\u2019s newly <span synonyms=\"offered|provided|supplied\" class=\"synonym\">provided<\/span> 260-area gold concession map.<\/p>\n<p><strong>Why it <span synonyms=\"matters|issues\" class=\"synonym\">issues<\/span>:<\/strong> This <span synonyms=\"move|transfer\" class=\"synonym\">transfer<\/span> is what <span synonyms=\"the government|the federal government\" class=\"synonym\">the federal government<\/span>\u2019s mining overhaul was designed to encourage. The Mineral <span synonyms=\"Resources|Assets|Sources\" class=\"synonym\">Assets<\/span> and Mining Industries Authority launched its open-sector exploration bid <span synonyms=\"round|spherical\" class=\"synonym\">spherical<\/span> <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/15\/transport-ministry-to-reject-ad-ports-sweetened-mto-for-alex-containers\/\" target=\"_blank\">in June<\/a>, <span synonyms=\"replacing|changing\" class=\"synonym\">changing<\/span> sporadic auctions with a <span synonyms=\"continuous|steady\" class=\"synonym\">steady<\/span> <span synonyms=\"application|software|utility\" class=\"synonym\">utility<\/span> window <span synonyms=\"to cut|to chop\" class=\"synonym\">to chop<\/span> bureaucratic friction. The <span synonyms=\"goal|objective|aim|purpose\" class=\"synonym\">purpose<\/span> is <span synonyms=\"to attract|to draw\" class=\"synonym\">to draw<\/span> <span synonyms=\"experienced|skilled\" class=\"synonym\">skilled<\/span> <span synonyms=\"foreign|overseas|international\" class=\"synonym\">overseas<\/span> <span synonyms=\"players|gamers\" class=\"synonym\">gamers<\/span> like Capital <span synonyms=\"Limited|Restricted\" class=\"synonym\">Restricted<\/span>, which <span synonyms=\"previously|beforehand\" class=\"synonym\">beforehand<\/span> explored the <span synonyms=\"Eastern|Japanese|Jap\" class=\"synonym\">Jap<\/span> Desert alongside an Emirati <span synonyms=\"player|participant\" class=\"synonym\">participant<\/span> <span synonyms=\"before|earlier than\" class=\"synonym\">earlier than<\/span> the latter exited the concession in 2021. This all feeds into the Oil Ministry\u2019s <span synonyms=\"target|goal\" class=\"synonym\">goal<\/span> <span synonyms=\"to raise|to boost|to lift\" class=\"synonym\">to boost<\/span> the <a href=\"https:\/\/enterpriseam.com\/menaplus\/2026\/05\/04\/egypt-slashes-exploration-rents-red-rape-to-attract-foreign-investment-in-mining\/\" target=\"_blank\">mining sector\u2019s share of GDP<\/a> to 5-6% by 2030, up from <span synonyms=\"less than|lower than\" class=\"synonym\">lower than<\/span> 1% <span synonyms=\"currently|presently|at present|at the moment\" class=\"synonym\">at present<\/span>.<\/p>\n<p class=\"tag-border-left\"><strong>Perenco <span synonyms=\"moves|strikes\" class=\"synonym\">strikes<\/span> onshore<\/strong><\/p>\n<p><strong><span synonyms=\"A new|A brand new\" class=\"synonym\">A brand new<\/span> batch of exploration agreements <span synonyms=\"just|simply\" class=\"synonym\">simply<\/span> cleared the <span synonyms=\"House|Home\" class=\"synonym\">Home<\/span> of Representatives<\/strong>, which gave its <span synonyms=\"final|last|ultimate|remaining|closing\" class=\"synonym\">ultimate<\/span> approval to <span synonyms=\"four|4\" class=\"synonym\">4<\/span> draft <span synonyms=\"laws|legal guidelines\" class=\"synonym\">legal guidelines<\/span> authorizing the Oil Minister to <span synonyms=\"sign|signal\" class=\"synonym\">signal<\/span> contracts with Egyptian <span synonyms=\"Natural|Pure\" class=\"synonym\">Pure<\/span> <span synonyms=\"Gas|Fuel|Gasoline\" class=\"synonym\">Gasoline<\/span> Holding <span synonyms=\"Company|Firm\" class=\"synonym\">Firm<\/span> (Egas) and Egyptian <span synonyms=\"General|Common|Basic|Normal\" class=\"synonym\">Normal<\/span> Petroleum <span synonyms=\"Corporation|Company\" class=\"synonym\">Company<\/span> (EGPC) <span synonyms=\"across|throughout\" class=\"synonym\">throughout<\/span> North Sinai, the Nile Delta, the Mediterranean, and the <span synonyms=\"Eastern|Japanese|Jap\" class=\"synonym\">Jap<\/span> Desert, <a href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-approves-oil-gas-deals-including-perenco-north-sinai-project-2026-07-22\/\" target=\"_blank\">Reuters<\/a> <span synonyms=\"reports|reviews|stories|studies|experiences\" class=\"synonym\">reviews<\/span>, citing <span synonyms=\"local|native\" class=\"synonym\">native<\/span> media.<\/p>\n<p><strong>Egas and Perenco North Sinai Petroleum will <span synonyms=\"explore|discover\" class=\"synonym\">discover<\/span> the Al Fayrouz onshore block in North Sinai<\/strong>, with a 3D seismic survey and one exploratory <span synonyms=\"well|properly|nicely|effectively\" class=\"synonym\">properly<\/span> <span synonyms=\"committed|dedicated\" class=\"synonym\">dedicated<\/span>. <span synonyms=\"Unlike|In contrast to|Not like\" class=\"synonym\">In contrast to<\/span> <span synonyms=\"the other|the opposite\" class=\"synonym\">the opposite<\/span> three, the explanatory memo <span synonyms=\"shows|exhibits|reveals\" class=\"synonym\">exhibits<\/span> Perenco <span synonyms=\"came|got here\" class=\"synonym\">got here<\/span> in with a direct, unsolicited <span synonyms=\"offer|supply|provide\" class=\"synonym\">supply<\/span> for the block <span synonyms=\"rather|quite|somewhat|slightly|fairly|relatively|moderately|reasonably\" class=\"synonym\">slightly<\/span> than <span synonyms=\"through|via|by way of|by means of|by\" class=\"synonym\">by<\/span> a <span synonyms=\"competitive|aggressive\" class=\"synonym\">aggressive<\/span> <span synonyms=\"round|spherical\" class=\"synonym\">spherical<\/span>.<\/p>\n<p><strong>REMEMBER-<\/strong> Egas awarded these blocks in June 2025, when Chevron, Shell, Eni, Cheiron, IPR, and Perenco <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/06\/29\/israel-restarts-limited-egypt-bound-gas-exports\/\" target=\"_blank\">committed a combined USD 245 mn<\/a> <span synonyms=\"across|throughout\" class=\"synonym\">throughout<\/span> six blocks and <span synonyms=\"at least|a minimum of|no less than|at the least|at the very least|not less than\" class=\"synonym\">a minimum of<\/span> 13 exploratory wells. <span synonyms=\"The latest|The newest|The most recent\" class=\"synonym\">The most recent<\/span> batch locks in three of <span synonyms=\"those|these\" class=\"synonym\">these<\/span>: Perenco\u2019s Al Fayrouz block, IPR South Desouk\u2019s North Tanta onshore <span synonyms=\"area|space\" class=\"synonym\">space<\/span> <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> Nile Delta, and Cheiron Egypt Delta\u2019s East Alexandria offshore block <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> Mediterranean, <span synonyms=\"where|the place\" class=\"synonym\">the place<\/span> Cheiron is committing <span synonyms=\"at least|a minimum of|no less than|at the least|at the very least|not less than\" class=\"synonym\">a minimum of<\/span> USD 42.2 mn and three exploratory wells.<\/p>\n<p><strong>MEANWHILE-<\/strong> Saudi Arabia\u2019s Ardiseis, China\u2019s BGP, and US-based WesternGeco are <a href=\"https:\/\/asharqbusiness.com\/amp\/power\/141594\/%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%AA%D8%AA%D9%86%D8%A7%D9%81%D8%B3-%D9%81%D9%8A-%D9%85%D9%86%D8%A7%D9%82%D8%B5%D8%A9-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D9%84%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D9%82%D8%B1%D8%A8-%D8%AD%D8%AF%D9%88%D8%AF-%D9%84%D9%8A%D8%A8%D9%8A%D8%A7\/\" target=\"_blank\">reportedly competing for an EGPC tender<\/a> <span synonyms=\"to carry|to hold\" class=\"synonym\">to hold<\/span> out <span synonyms=\"the first|the primary\" class=\"synonym\">the primary<\/span> <span synonyms=\"phase|part|section\" class=\"synonym\">section<\/span> of a seismic survey <span synonyms=\"covering|overlaying|masking|protecting\" class=\"synonym\">masking<\/span> <span synonyms=\"more than|greater than\" class=\"synonym\">greater than<\/span> 50k sq km of the Western Desert <span synonyms=\"near|close to\" class=\"synonym\">close to<\/span> the Libyan border. The <span synonyms=\"resulting|ensuing\" class=\"synonym\">ensuing<\/span> <span synonyms=\"data|knowledge|information\" class=\"synonym\">knowledge<\/span> <span synonyms=\"will be|shall be|might be|will probably be|can be|will likely be\" class=\"synonym\">can be<\/span> used to divide the territory into exploration blocks for subsequent <span synonyms=\"offerings|choices\" class=\"synonym\">choices<\/span>. <span synonyms=\"The government|The federal government\" class=\"synonym\">The federal government<\/span> is <span synonyms=\"targeting|concentrating on|focusing on\" class=\"synonym\">concentrating on<\/span> <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/21\/the-oil-ministry-is-eying-14-mediterranean-exploration-wells-in-usd-1-bn-drilling-push-this-year\/\" target=\"_blank\">101 oil and gas exploration wells<\/a> this <span synonyms=\"year|yr|12 months\" class=\"synonym\">yr<\/span>, <span synonyms=\"including|together with\" class=\"synonym\">together with<\/span> 67 <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> Western Desert.<\/p>\n<p class=\"tag-border-left\"><strong>The triangle takes <span synonyms=\"shape|form\" class=\"synonym\">form<\/span><\/strong><\/p>\n<p><strong>Elsewedy Industrial <span synonyms=\"Development|Improvement|Growth\" class=\"synonym\">Improvement<\/span> has signed the Golden Triangle <span synonyms=\"Economic|Financial\" class=\"synonym\">Financial<\/span> Zone Authority\u2019s first industrial-developer contract<\/strong>, which plans to develop a 6 mn sqm industrial and logistics zone in Safaga over three phases, <span synonyms=\"according to|based on|in accordance with|in line with|in response to|in keeping with\" class=\"synonym\">based on<\/span> a <a href=\"https:\/\/www.facebook.com\/goldn.triangle\/posts\/pfbid02FKooYa7UcdMyaV7QSRRZMLT7kyeErZXeXUXaQYG4R5pSRxUc5JwcXajo91TH6hEdl\" target=\"_blank\">statement<\/a> from the authority. The zone will <span synonyms=\"focus on|concentrate on|give attention to|deal with\" class=\"synonym\">deal with<\/span> mining and mineral-based manufacturing, alongside warehousing, logistics, and export <span synonyms=\"services|providers|companies\" class=\"synonym\">companies<\/span>. Plans <span synonyms=\"also|additionally\" class=\"synonym\">additionally<\/span> <span synonyms=\"include|embrace|embody\" class=\"synonym\">embrace<\/span> a <span synonyms=\"branch|department\" class=\"synonym\">department<\/span> of Elsewedy Technical Academy <span synonyms=\"to train|to coach\" class=\"synonym\">to coach<\/span> <span synonyms=\"workers|staff|employees\" class=\"synonym\">staff<\/span> for the factories <span synonyms=\"expected|anticipated\" class=\"synonym\">anticipated<\/span> to <span synonyms=\"set up|arrange\" class=\"synonym\">arrange<\/span> <span synonyms=\"shop|store\" class=\"synonym\">store<\/span> <span synonyms=\"in the|within the\" class=\"synonym\">within the<\/span> zone.<\/p>\n<p><strong>IN CONTEXT-<\/strong> The signing <span synonyms=\"moves|strikes\" class=\"synonym\">strikes<\/span> the <span synonyms=\"project|venture|challenge|undertaking|mission\" class=\"synonym\">challenge<\/span> <span synonyms=\"beyond|past\" class=\"synonym\">past<\/span> the <a href=\"https:\/\/enterpriseam.com\/egypt\/2025\/08\/13\/breadfast-closes-usd-10-mn-round\/\" target=\"_blank\">MoU Elsewedy signed last August<\/a> and delivers <span synonyms=\"the final|the ultimate\" class=\"synonym\">the ultimate<\/span> contract, which was <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/11\/egypt-tenders-128-km-transmission-line-to-plug-in-el-dabaa\/\" target=\"_blank\">flagged as imminent in June<\/a>. It <span synonyms=\"also|additionally\" class=\"synonym\">additionally<\/span> <span synonyms=\"adds|provides\" class=\"synonym\">provides<\/span> an industrial <span synonyms=\"backbone|spine\" class=\"synonym\">spine<\/span> to a wider Golden Triangle pipeline <span synonyms=\"that includes|that features\" class=\"synonym\">that features<\/span> Xingfa\u2019s <span synonyms=\"planned|deliberate\" class=\"synonym\">deliberate<\/span> <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/01\/25\/worlds-largest-producer-of-specialty-phosphorus-chemicals-signals-egypt-mining-pivot-with-usd-2-bn-golden-triangle-hub\/\" target=\"_blank\">USD 2 bn phosphate and specialty-chemicals complex<\/a> and the <a href=\"https:\/\/enterpriseam.com\/egypt\/2026\/06\/09\/trial-operations-kick-off-at-ad-ports-safaga-2-terminal\/\" target=\"_blank\">USD 200 mn Safaga 2 multipurpose terminal<\/a>, which <span synonyms=\"began|started\" class=\"synonym\">started<\/span> trial operations in June.<\/p>\n<h3 class=\"jp-relatedposts-headline\"><em><span synonyms=\"Related|Associated\" class=\"synonym\">Associated<\/span><\/em><\/h3>\n<p><\/audio><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The drilling contractor for Sukari operator AngloGold Ashanti needs to provide its personal gold: UK-listed mining companies agency Capital Limited is seeking to safe 9 gold exploration blocks within the Jap Desert, based on an unnamed government official. The agency plans to leverage its present footprint as a drilling contractor for AngloGold Ashanti and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176],"tags":[],"class_list":["post-2749","post","type-post","status-publish","format-standard","has-post-thumbnail","category-podcast"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Capital Limited is seeking nine gold blocks after years of drilling for others - daily business egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailybusiness.info\/?p=2749\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Limited is seeking nine gold blocks after years of drilling for others\" \/>\n<meta property=\"og:description\" content=\"&nbsp; The drilling contractor for Sukari operator AngloGold Ashanti needs to provide its personal gold: UK-listed mining companies agency Capital Limited is seeking to safe 9 gold exploration blocks within the Jap Desert, based on an unnamed government official. 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