Egypt's Hammash For Gold Mines company plans to produce at least 360 kg of gold each year, according to a statement released on Thursday.
The company board made this announcement during the firm’s general assembly that was held to discuss the firm's budget for the fiscal year 2022.
The assembly was held in the presence of Khaled El-Sheshtawy, Chairman of the Mineral Resources Authority, and Eng. Hisham El-Hazeq, representative of Matz Holdings Ltd.
"Since, 2019 the firm has greatly developed in many sectors, such as the quality of production and performance administration as it hires specialized companies to perform technical reviews and benchmark tests of its services," Alaa Khashb Deputy Minister of Oil said.
Khashb also contended that the corporation has spent millions to correct its course and assist repositioning in the mining market.
On his part, Hazik revealed that several contractual agreements with international firms are already underway, noting those firms will carry out feasibility studies for Matz Holdings's projects to get more gold reserves by 2023.
It's worth mentioning that Hammash Misr, a joint venture between Hazik group and Cyprus-registered Matz Holdings Ltd, also has been seeking effective ways to modernize its public administration and adapt it to contemporary conditions.
Contributed by Ahmed Emam
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