– Four international firms, including Lotus Gold from Canada and Nubian Mines from the UK, are competing for Egypt’s first global tender for gold prospecting, launched by Shalateen Mineral Resources near the Sukari gold mine.
– Sukari gold mine’s production reached 450,058 ounces in 2023, highlighting the significance of Egypt’s mining sector, which comprises around 100 mines, including the Igat mine with one million ounces of gold, and the Sukari Gold Mine with 12 million ounces.
– Egypt aims to prioritize local involvement in gold extraction while looking to inject approximately $1 billion into the mining industry by 2030, as stated by a government official.
About four international firms are currently vying for Egypt’s inaugural global tender, initiated by Shalateen Mineral Resources, for gold exploration in two areas adjacent to the Sukari gold mine.
The competing companies include Lotus Gold from Canada, Nubian Mines based in the UK, Saudi Steps Group from Saudi Arabia, and a Russian entity. Once this tender is finalized, another international tender is anticipated for an additional three regions.
It is noteworthy that Sukari gold mine’s production reached 450,058 ounces in 2023, up from 440,974 ounces in 2022.
Egypt boasts approximately 100 mines, with the Igat Mine holding one million ounces of gold and the Sukari Gold Mine containing 12 million ounces, as per media reports.
Emphasizing the importance of local involvement, the official underscored the necessity for gold extraction to be carried out by Egyptian hands.
Egypt aims to inject approximately $1 billion into the mining sector by 2030.
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