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.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (