Shalateen Mineral Resources: A Plan to Ramp Up Gold Production to 6 Tons Annually Within Five Years

Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, confirmed that the mining sector is witnessing a significant transformation. He pointed out that the most notable achievements include transforming the Mineral Resources Authority into an economic entity and launching a more attractive exploitation model for both local and foreign investment. He added that one of the current main goals is to process mineral ores domestically and maximize added value for the benefit of the national economy.

General Assemblies of Mining Companies

This came during the minister’s chairmanship of the general assembly meetings of several mining companies at the headquarters of the Mineral Resources Authority and Mining Industries. The meetings included Shalateen Mineral Resources, WadiCo, Sukari Gold Mines, and the Egyptian Company for Mineral Resources, attended by geologist Yasser Ramadan, head of the authority, Dr. Mohamed El-Bagouri, head of the Central Legal Affairs Department, as well as senior officials from the ministry and the Central Auditing Organization.

Shalateen Mineral Resources Projects

The minister highlighted the importance of the industrial mining complex project in Aswan, describing it as a key step in formalizing the status of artisanal miners, safeguarding state rights, and creating greater, more organized job opportunities for local communities, while also benefiting from successful international experiences.

Shalateen’s production exceeded 900 kilograms of gold last year from the Iqat mine and artisanal mining system.

The company targets increasing production to 6 tons annually within five years.

It is building an industrial complex over an area of 1,422 feddans to regulate informal mining and operate it with environmentally friendly methods.

Studies are underway in the West Gebel Elba area in cooperation with Afaaq Mining Company to confirm reserves exceeding 300,000 ounces, paving the way for a new commercial discovery.

Sukari Mine… A Global Success Story

The minister emphasized that the Sukari mine is a success story, ranking among the world’s top 10 gold mines and serving as a distinguished model for environmental preservation. He also stressed the importance of supporting the partnership with the global company AngloGold Ashanti.

During the meeting, Marcelo Pereira, the company’s Chief Operating Officer, expressed via video conference his pride in the company’s strategic partnership with Egypt’s mining sector, affirming that Egypt has become one of the key countries in the company’s business portfolio.

Meanwhile, Mohamed Mahmoud, Chairman of Sukari Gold Mining Company, presented the company’s environmental expansion plans, which include solar-powered electricity generation, water treatment, and safe disposal of production waste.

WadiCo Mining Plans

Eng. Amgad Ghoneim, Chairman of WadiCo, outlined the company’s plan to maximize phosphate ore reserves and increase value addition, which includes:

Adding 5.4 million tons of new reserves in 2025.

Developing a project to upgrade low- and medium-grade ores, doubling the stock of high-quality reserves by up to 200%.

Launching the first solar-powered, eco-friendly phosphate crusher in Aswan.

Introducing electric-powered equipment to save nearly one million liters of diesel annually.

Egyptian Company for Mineral Resources

Dr. Amr Hassan, Chairman of the Egyptian Company for Mineral Resources, stated that the company aims to improve product quality to boost competitiveness in the local market. He highlighted plans to produce around 593,000 tons of various ores, particularly phosphate, quartz, and talc. He also revealed the company’s new direction to enter tin ore production for the first time, along with assigning new sectors in the Wadi El-Shaghb site to achieve higher production rates.