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Arab Finance: Prime Minister Mostafa Madbouly has chaired the first meeting of the Supreme Gold Committee, reviewing its efforts to maximize added value and transform Egypt from an ore exporter into an industrial hub, according to a statement.
The Cabinet Spokesman, Mohamed Elhomosany, highlighted that the committee is preparing a comprehensive strategic plan to bolster the gold sector at all stages, from extraction to manufacturing and trading. It will also develop legislation and policies to regulate the market.
Additionally, the committee is studying proposed cooperation projects for establishing a national gold refinery, while outlining a comprehensive study on reorganizing the Assay and Weights Authority and expanding its responsibilities.
Elhomosany noted that the refinery project will specialize in refining gold ore and raise its purity to meet international standards and serve neighboring countries. This will contribute to increasing the added value of gold, boosting Egypt’s gold reserves, and supporting mining value chains.
Egypt’s gold reserves recorded the highest level at $18.166 billion in December 2025, according to the Central Bank of Egypt (CBE).
Last month, the CBE and the African Export-Import Bank (Afreximbank) signed a deal to establish a specialized gold bank serving the African continent.
