{"id":555800,"date":"2021-11-28T04:00:56","date_gmt":"2021-11-28T04:00:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/28\/state-plans-to-start-commercial-operations-at-1-mn-oz-gold-concession-in-eastern-desert\/"},"modified":"2021-11-28T04:00:56","modified_gmt":"2021-11-28T04:00:56","slug":"state-plans-to-start-commercial-operations-at-1-mn-oz-gold-concession-in-eastern-desert","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/28\/state-plans-to-start-commercial-operations-at-1-mn-oz-gold-concession-in-eastern-desert\/","title":{"rendered":"State plans to start commercial operations at 1-mn oz gold concession in Eastern Desert"},"content":{"rendered":"

The Oil Ministry plans in the coming months to start commercial gold exploration <\/strong>at the Iqat area in the Eastern Desert<\/strong>, which is thought to house more than 1 mn ounces of gold<\/a>, the ministry announced<\/a> yesterday. More than USD 1 bn<\/a> could be invested over the next 10 years in the deposit, which falls within the state-owned Shalateen Mining Company\u2019s concession area. The area has an average gold concentration of 1.5 grams per tonne of rock, Oil Minister Tarek El Molla said in the statement.<\/p>\n

Doing the digging:<\/strong> 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 is developing the concession, making it only the third gold mine operator in the country, alongside Centamin and the Hamash Company, a JV between the state and Cyprus\u2019 Matz Holding.<\/p>\n

The news was picked up by the foreign press:<\/strong> Al Arabiya<\/a> | CNN<\/a> | CNBC Arabia<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 in the deposit, which falls […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,7093,373],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555800","post","type-post","status-publish","format-standard","hentry","category-mining","tag-enterpriseam","tag-gold","tag-mining","wpautop","entry"],"acf":{"mongo_id":"b6d5e31f-0a66-4b48-916d-e53980ccbd7f","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[555784],"teaser":"","voice_url":""},"yoast_head":"\nState plans to start commercial operations at 1-mn oz gold concession in Eastern Desert - 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\/2021\/11\/28\/state-plans-to-start-commercial-operations-at-1-mn-oz-gold-concession-in-eastern-desert\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State plans to start commercial operations at 1-mn oz gold concession in Eastern Desert\" \/>\n<meta property=\"og:description\" content=\"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. 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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":572613,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/01\/egypt-discovers-gold-deposit-in-the-eastern-desert\/","url_meta":{"origin":555800,"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. 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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":574875,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/a-blockbuster-gold-discovery-may-have-killed-sawiris-chances-of-nabbing-shalateen-mining\/","url_meta":{"origin":555800,"position":4},"title":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of nabbing Shalateen Mining","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of acquiring Shalateen Mining: Naguib Sawiris\u2019 interest in a majority stake in state-owned Shalateen Mining have reportedly hit a roadblock after the company made a blockbuster gold discovery in the Eastern Desert. 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