{"id":547742,"date":"2022-07-05T04:18:42","date_gmt":"2022-07-05T04:18:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/"},"modified":"2022-07-05T04:18:42","modified_gmt":"2022-07-05T04:18:42","slug":"iqat-gold-mine-will-start-production-in-4q2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/","title":{"rendered":"Iqat gold mine will start production in 4Q2022"},"content":{"rendered":"

<\/a> Production at the Iqat gold mine could begin in 4Q2022<\/strong>, the chairman of the state-owned Shalateen Mining Company told Bloomberg Asharq<\/a> on the sidelines of the Egypt Mining Forum<\/a> yesterday. The deposit is estimated to hold around 1.3 mn ounces of gold, and USD 300 mn has so far been invested, Ashraf El Amir told the news service.<\/p>\n

Shalateen Mining will become the third operator in Egypt<\/strong> when production begins later this year, joining Centamin and the Hamash Company, a JV between the state and Cyprus\u2019 Matz Holding. The company is 100% state-owned: the Egyptian Mineral Resources Authority (EMRA) owns 35%, the military\u2019s National Service Projects Organization holds 34%, the National Investment Bank owns 27% and the Egyptian Company For Mineral Resources holds 7%.<\/p>\n

A new international gold and minerals exploration tender could be launched in the second half of August<\/strong>, El Amir told Asharq, adding that the tender is pending environmental and security approvals. Shalateen had reportedly been planning<\/a> to launch an international auction this summer for at least five areas in the Eastern Desert, including part of the Iqat region.<\/p>\n

Background: <\/strong>The gold deposit located in the Eastern Desert\u2019s Iqat region was discovered<\/a> in 2020. Iqat Gold Mining Company \u2014 a joint venture company set up by the Egyptian Mineral Resources Authority and Shalateen \u2014 is working on developing the concession. The Oil Ministry said at the time of its discovery that more than USD 1 bn<\/a> could be invested over 10 years to develop the deposit.<\/p>\n

ALSO FROM THE FORUM- <\/strong><\/p>\n

EMRA signed three mining agreements: <\/strong>One agreement was signed with a subsidiary of Italian oil giant Eni to explore mining minerals used in clean energy projects, while the other two were signed with the AmCham Egypt and geochemical lab MSALABS<\/a> on training mining and lab workers, the Oil Ministry said in a statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Production at the Iqat gold mine could begin in 4Q2022, the chairman of the state-owned Shalateen Mining Company told Bloomberg Asharq on the sidelines of the Egypt Mining Forum yesterday. The deposit is estimated to hold around 1.3 mn ounces of gold, and USD 300 mn has so far been invested, Ashraf El Amir told […]<\/p>\n","protected":false},"author":1,"featured_media":547743,"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":[2121,72,7093,2122,373,2018],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mining","tag-egyptian-mineral-resources-authority","tag-enterpriseam","tag-gold","tag-iqat","tag-mining","tag-shalateen-mining","wpautop","entry"],"acf":{"mongo_id":"bf32151a-09b4-4ccf-9293-ea8e7d1b5a1e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/117.jpg","photo_position":"above","related_issue":[547732],"teaser":"","voice_url":""},"yoast_head":"\nIqat gold mine will start production in 4Q2022 - 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\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iqat gold mine will start production in 4Q2022\" \/>\n<meta property=\"og:description\" content=\"Production at the Iqat gold mine could begin in 4Q2022, the chairman of the state-owned Shalateen Mining Company told Bloomberg Asharq on the sidelines of the Egypt Mining Forum yesterday. The deposit is estimated to hold around 1.3 mn ounces of gold, and USD 300 mn has so far been invested, Ashraf El Amir told […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-05T04:18:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/117.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Iqat gold mine will start production in 4Q2022\",\"datePublished\":\"2022-07-05T04:18:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/117.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Egyptian Mineral Resources Authority\",\"EnterpriseAM\",\"gold\",\"Iqat\",\"mining\",\"Shalateen Mining\"],\"articleSection\":[\"Mining\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/iqat-gold-mine-will-start-production-in-4q2022\/\",\"name\":\"Iqat gold mine will start production in 4Q2022 - 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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":[]},{"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":547742,"position":1},"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":572613,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/01\/egypt-discovers-gold-deposit-in-the-eastern-desert\/","url_meta":{"origin":547742,"position":2},"title":"Egypt discovers gold deposit in the Eastern Desert","author":"enterpriseam admin","date":"1 July 2020","format":false,"excerpt":"A gold deposit estimated to hold over 1 mn ounces was discovered in the Eastern Desert\u2019s Iqat region, the Oil Ministry said in a statement. The deposit, which also contains other minerals, is located in state-owned Shalateen Mining Company\u2019s concession area. The area could see investments of more than USD\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\/7\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576365,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/sawiris-attempts-to-acquire-shalateen-mining-in-doubt-as-talks-halted\/","url_meta":{"origin":547742,"position":3},"title":"Sawiris\u2019 attempts to acquire Shalateen Mining in doubt as talks halted","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"M&A WATCH- Sawiris\u2019 attempts to acquire Shalateen Mining in doubt as talks stop: Naguib Sawiris\u2019 talks with the government to acquire 51% of state-owned Shalateen Mining have been suspended, Oil Minister Tarek El Molla told Reuters without giving further detail. The La Mancha chairman said in February he was eyeing\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":542731,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/mining-cities-and-egypts-first-gold-refinery-coming-soon-el-molla\/","url_meta":{"origin":547742,"position":4},"title":"Mining \u201ccities\u201d and Egypt\u2019s first gold refinery coming soon -El Molla","author":"enterpriseam admin","date":"13 January 2022","format":false,"excerpt":"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\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\/1\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569412,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/sawiris-eyes-51-stake-in-state-owned-shalateen-mining-company\/","url_meta":{"origin":547742,"position":5},"title":"Sawiris eyes 51% stake in state-owned Shalateen mining company","author":"enterpriseam admin","date":"24 February 2020","format":false,"excerpt":"M&A WATCH- Sawiris eyes majority stake in state-owned Shalateen: Naguib Sawiris is in talks with the government to buy a 51% stake in state-owned Shalateen Mining, Reuters reports. 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