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Image used for illustrative purpose only. A worker at Ashanti goldfields' big mine in Obuasi, Ghana, supervises the pouring of gold heated to around 1,600 centigrade. Ashanti, one of Africa's biggest gold mining companies, is the subject of rival merger bids.
Arab Finance: Shalateen Mineral Resources is planning to launch a new international tender for gold prospecting in the Wadi Allaqi region in Egypt’s Eastern Desert within the fourth quarter (Q4) of 2024, a government official told Asharq Business.
Wadi Allaqi area will be divided into five gold prospecting sites, to be offered to local and international companies, the official pointed out.
It is worth noting that Egypt’s annual gold production is estimated at 15.8 tons, most of which originates from the Sukari Gold Mine (SGM) in the Eastern Desert, in addition to the Hamash and Iqat mines.
In 2023, the Egyptian government’s share of the SGM production surpassed $130 million.
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