Egypt to establish 6 complexes to extract gold in Eastern Desert

Getty Images

The government-affiliated Shalateen Mineral Resources firm is working to establish these complexes

Staff Writer, Arab Finance

July 9, 2023

PHOTO

Egypt will establish six complexes to extract gold in the Eastern Desert, Asharq business reported, citing unnamed sources familiar with the matter.

The government-affiliated Shalateen Mineral Resources firm is working to establish these complexes to help companies and individuals increase the productivity of the quantities of gold supplied to the government, according to the sources.

The first complex will be built near Aswan, on an area of 6 million square meters, at an investment cost of EGP 250 million.

Another complex will be built near Marsa Alam, located on the Red Sea, southeast of Cairo.

Shalateen Mineral Resources delivered 240 kilograms of gold to the Central Bank of Egypt (CBE) during the period from January to April 2023.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO