PHOTO
A close up image of three small gold bars on a ten Egyptian pound bank note in macro. Getty Images Image used for illustrative purpose
Shalatin Mineral Resources is seeking to deliver 1.2 tons of gold to the Central Bank of Egypt (CBE) in 2024, Chairman Sherif El-Shahawy told Asharq Business.
In 2023, the company delivered 750 kilograms of gold worth around EGP 2.6 billion, El-Shahawy added.
El-Shahawy also mentioned that construction of a mining industrial complex for mining in Aswan has started, and is expected to be complete by May 2025 at a cost of EGP 350 million.
In the first half (H1) of 2024, Shalateen Mineral Resources increased its gold deliveries to the CBE by approximately 23% year on year.
Established in 2012, Shalatin Mineral Resources Company is 35% owned by the Egyptian Mineral Resources Authority (EMRA). The National Service Projects Agency of the Egyptian Ministry of Defense holds 34% and the National Investment Bank (NIB) owns 24%.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
