The government has established the Shalatin Company to regulate gold mining in the disputed Shalatin area on the border with Sudan, which is currently carried out haphazardly and with little oversight, Oil Minister Tarek El Molla announced yesterday, Al Shorouk reports. The company is responsible for negotiating with miners and setting competitive prices for purchasing gold to avoid smuggling, according to the minister.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
EGX30 gained 2.79% in 3Q, but September gave back most of its July-August run, with mid-caps falling the hardest
Small- and mid-cap indices widened their lead over the benchmark…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…