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Egypt Begins Experimental Production of Gold in ‘Iqat’, Says El-Molla

Gold Service

Tue 21 Mar 2023 | 04:01 PM
Walid Farouk

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla announced on Monday the commencement of trials of commercial production of gold from the Iqat site in southern Egypt.

According to a statement by the Ministry of Petroleum and Mineral Resources, El-Molla said that Iqat Gold Mining Company was formed between Shalatin, the Egyptian Mineral Resources Authority (EMRA), and the Wealth and Resources Mining Company, who are in charge of work in the detection area.

The minister also noted that the site is a pure Egyptian investment in the field of gold exploration and exploitation through the Egyptian Shalateen Company, which is witnessing a successful partnership and fruitful cooperation with the Egyptian private sector.

El-Molla made these remarks during his visit to the Iqat site, where he inspected the progress of the works and the progress of the gold production process.

It's worth mentioning that the Iqat site, which is considered one of the highest extraction rates, accounted for about 1.2 million ounces of gold, and the extraction rate is 95%.

Contributed by Ahmed Emam