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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