The Central Bank of Egypt received about 400 kilograms of gold from Shalateen Mineral Resource Company during the first half of 2024, with a 23% increase from last year, according to a governmental official told Al Sharq.
The company monthly receives gold from people who have permission to mine in their areas in Eastern Dessert, and then the company sends the gold to the CBE with the international price of gold in the world exchange.
The official said that the latest received 330-kilogram package of gold estimated at EGP 1.6 billion.
Last year, the company sent 720 kilograms of gold to the CBE.
The Egyptian government is working on enhancing investments in the field of mining by 2023 by attracting investments estimated at $1 billion to the sector.
The Egyptian Mineral Resource Association owns 35% of the company that founded in 2012, while The National Service Projects Organization owns 34%, the National Investment Bank owns 24%, and the Egyptian Company For Mineral Resources owns 7%.
Contributed by: Rana Atef
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