Shalateen Increases Gold Deliveries to Central Bank by 12% Supported by Artisanal Mining Expansion

Shalateen for Mineral Wealth raised the amount of gold delivered to the Central Bank of Egypt during the first quarter of the year by 12% year-on-year, exceeding 250 kilograms, according to a government official.

The company aims to increase total deliveries of high-purity gold (24-karat) to around 1.25 tons by the end of this year, compared to approximately 945 kilograms in 2025, according to a previous statement by a company official.

Shalateen collects gold monthly from licensed companies and individuals operating in concession areas in the Eastern Desert, before delivering it to the Central Bank based on global gold prices in US dollars, calculated according to the official Egyptian pound exchange rate.

The official attributed the increase in delivered quantities to the expansion of companies operating in the concession areas, alongside the opening of new areas for artisanal mining, with 8 new zones awarded to investors last year. Rising global gold prices also encouraged producers within Shalateen’s scope to increase production and supply.

Egypt is intensifying efforts to boost investments in the mining sector, especially gold, targeting around $1 billion annually by 2030. The country’s annual gold production is estimated at 15.8 tons, most of which comes from the Sukari mine in the Eastern Desert, alongside the Hamash and Eygat mines.

Ownership of Shalateen for Mineral Wealth is distributed as follows: the Egyptian Mineral Resources Authority holds 35%, the National Service Projects Organization 34%, the National Investment Bank 24%, and the Egyptian Resources Company 7%.