{"id":542731,"date":"2022-01-13T03:35:30","date_gmt":"2022-01-13T03:35:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/"},"modified":"2022-01-13T03:35:30","modified_gmt":"2022-01-13T03:35:30","slug":"mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/","title":{"rendered":"Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla"},"content":{"rendered":"

<\/a> Egypt plans to develop industrial mining \u201ccities\u201d for the extraction of gold, <\/strong>copper, and phosphate<\/strong>, Bloomberg Asharq<\/a> quoted Oil Minister Tarek El Molla as saying yesterday at the Future Minerals Forum<\/a> in Riyadh. The zones would extract and process gold in the Eastern Desert, phosphates in the Western Desert, and copper in Sinai, El Molla reportedly said.<\/p>\n

Marsa Alam to see our first gold refinery as part of the plan:<\/strong> El Molla said at the forum that work is underway to establish the country\u2019s first accredited gold refinery in the Eastern Desert\u2019s Marsa Alam, according to a ministry statement.<\/a><\/p>\n

Gold worth USD 1 bn?<\/strong> The area housing the gold refinery is thought to hold more than 1 mn ounces of gold, the ministry announced in November<\/a>. The deposit could be worth up to USD 1 bn if estimates are proven correct. The area has an average gold concentration of 1.5 grams per tonne of rock, according to El Molla. Iqat Gold Mining Company \u2014 a joint venture company set up by the Egyptian Mineral Resources Authority and the military-owned Shalateen Mining Company \u2014 holds the concession.<\/p>\n

The ministry aims for the mining sector to grow tenfold over the next two decades, <\/strong>which would ultimately see it contribute 5% to annual GDP, El Molla said.<\/p>\n

The gov\u2019t is working to expand the mining industry:<\/strong> Last year\u2019s gold tender<\/a> saw gold exploration licenses awarded to players including Sawiris-backed Altus Strategies subsidiary Akh Gold, Canada\u2019s Lotus Gold, Egypt\u2019s Ebdaa Gold, and the Mining and Manufacturing Company (MEDAF). The tender came following amendments<\/a> to the Mineral Resources Act that Sawiris has said<\/a> were \u201cmore favorable and more realistic and would attract foreign investments to the sector.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt plans to develop industrial mining \u201ccities\u201d for the extraction of gold, copper, and phosphate, Bloomberg Asharq quoted Oil Minister Tarek El Molla as saying yesterday at the Future Minerals Forum in Riyadh. The zones would extract and process gold in the Eastern Desert, phosphates in the Western Desert, and copper in Sinai, El Molla […]<\/p>\n","protected":false},"author":1,"featured_media":542732,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8008],"tags":[372,72,7093,373,371,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-eastern-desert","tag-enterpriseam","tag-gold","tag-mining","tag-oil-ministry","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"dc3c28ae-72f1-488b-9150-d1242027f558","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/154.jpg","photo_position":"above","related_issue":[542723],"teaser":"","voice_url":""},"yoast_head":"\nMining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla\" \/>\n<meta property=\"og:description\" content=\"Egypt plans to develop industrial mining \u201ccities\u201d for the extraction of gold, copper, and phosphate, Bloomberg Asharq quoted Oil Minister Tarek El Molla as saying yesterday at the Future Minerals Forum in Riyadh. 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The winners include seven foreign\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559968,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/10\/akh-gold-snags-exploration-licenses-for-9-eastern-desert-blocks\/","url_meta":{"origin":542731,"position":1},"title":"Akh Gold snags exploration licenses for 9 Eastern Desert blocks","author":"enterpriseam admin","date":"10 February 2021","format":false,"excerpt":"Sawiris-backed Altus Strategies subsidiary Akh Gold has landed four gold exploration licenses for nine blocks in the Eastern Desert from the Egyptian Mineral Resources Authority, the company announced in a statement yesterday. Altus Strategies had said last month that it expected to be awarded licenses for the blocks shortly, after\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":649630,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/05\/el-molla-participates-in-pdac-mining-convention-to-promote-gold-exploration-tender\/","url_meta":{"origin":542731,"position":2},"title":"El Molla participates in PDAC mining convention to promote gold exploration tender","author":"enterpriseam admin","date":"5 March 2017","format":false,"excerpt":"Oil Minister Tarek El Molla is in Canada today to participate in the Prospectors and Developers Association of Canada (PDAC) mining convention and promote the Egyptian Mineral Resources Authority\u2019s (EMRA) gold exploration tender in the Eastern Desert and South Sinai, Youm7 reports. The tender has raised concerns among international mining\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555800,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/28\/state-plans-to-start-commercial-operations-at-1-mn-oz-gold-concession-in-eastern-desert\/","url_meta":{"origin":542731,"position":3},"title":"State plans to start commercial operations at 1-mn oz gold concession in Eastern Desert","author":"enterpriseam admin","date":"28 November 2021","format":false,"excerpt":"The Oil Ministry plans in the coming months to start commercial gold exploration at the Iqat area in the Eastern Desert, which is thought to house more than 1 mn ounces of gold, the ministry announced yesterday. More than USD 1 bn could be invested over the next 10 years\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569795,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/08\/four-international-companies-show-interest-in-egypts-gold-mining-tender\/","url_meta":{"origin":542731,"position":4},"title":"Four international companies show interest in Egypt\u2019s gold mining tender","author":"enterpriseam admin","date":"8 March 2020","format":false,"excerpt":"Four more foreign companies want to participate in Egypt\u2019s upcoming gold mining tender, according to an Oil Ministry statement. The leaders of Canada\u2019s Forbes & Manhattan Group and Franco-Nevada Corporation, as well as US-based giants Newmont Corporation and Barrick Gold, have shown enthusiasm in meetings last week with Oil Minister\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547099,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/shalateen-mining-to-launch-international-gold-tender-for-at-least-five-eastern-desert-concessions\/","url_meta":{"origin":542731,"position":5},"title":"Shalateen Mining to launch international gold tender for at least five Eastern Desert concessions","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"Shalateen\u2019s gold areas up for grabs: State-owned Shalateen Mining Company plans to launch an international gold and minerals exploration auction for at least five areas in the Eastern Desert in the coming weeks, Bloomberg Asharq reported Monday, citing sources it says are in the know. The company has already sent\u2026","rel":"","context":"In "Mining"","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/195.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542731"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542731\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542732"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542731"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542731"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}