{"id":617527,"date":"2024-03-24T00:00:00","date_gmt":"2024-03-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/"},"modified":"2024-03-24T00:00:00","modified_gmt":"2024-03-24T00:00:00","slug":"two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/","title":{"rendered":"Two European firms mull USD 270 mn investments in plays on Egypt\u2019s growing gold industry"},"content":{"rendered":"

German, Austrian firms eye building sodium cyanide factories: <\/strong>Two European companies have submitted investment proposals to the Oil Ministry to set up sodium cyanide facilities in Egypt worth a combined USD 270 mn, Asharq Business<\/a> reports, citing two anonymous government sources. The proposals include one from German cyanide producer CyPlus<\/a> to set up a USD 150 mn factory that would produce 30k tonnes of sodium cyanide per annum, and a separate USD 120 mn factory from an Austrian company, with a similar production capacity to that of CyPlus.<\/p>\n

SOUND SMART:<\/strong> Sodium cyanide is the solution commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver. <\/p>\n

In the works since last summer: <\/strong>Oil Minister Tarek El Molla met with<\/a> the managing director of CyPlus last year to discuss the company\u2019s plan for the factory. <\/p>\n

Where the proposals stand:<\/strong> The European companies have seen their proposals approved by the Egyptian Investment Authority, while the state gas firm EGAS has signed off on their requests for natural gas supplies for the factories, one of the sources is quoted as saying. The companies are reportedly looking at setting up their factories either in Alexandria or Ain Sokhna to be close to the main raw production materials needed for the compound and to be well situated to export to mines in the Eastern Desert and overseas.<\/p>\n","protected":false},"excerpt":{"rendered":"

EGAS has signed off on the two factories\u2019 requests for natural gas supplies<\/p>\n","protected":false},"author":1,"featured_media":617528,"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":[7272],"tags":[317,7395,72,7093,125,373],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-commodities","tag-cyplus","tag-enterpriseam","tag-gold","tag-investment-watch","tag-mining","wpautop","entry"],"acf":{"mongo_id":"43a9cbdd-ba38-4f10-94bb-8603572b6188","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2039.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Two European firms mull USD 270 mn investments in plays on Egypt's growing gold industry","related_issue":[617514],"teaser":"EGAS has signed off on the two factories\u2019 requests for natural gas supplies","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.346d325f-a908-4df1-812b-56e33ef32256.mp3"},"yoast_head":"\nTwo European firms mull USD 270 mn investments in plays on Egypt\u2019s growing gold industry - 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\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two European firms mull USD 270 mn investments in plays on Egypt\u2019s growing gold industry\" \/>\n<meta property=\"og:description\" content=\"EGAS has signed off on the two factories\u2019 requests for natural gas supplies\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-24T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2039.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\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Two European firms mull USD 270 mn investments in plays on Egypt\u2019s growing gold industry\",\"datePublished\":\"2024-03-24T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\"},\"wordCount\":245,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2039.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"CyPlus\",\"EnterpriseAM\",\"gold\",\"investment watch\",\"mining\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/03\/24\/two-european-firms-mull-usd-270-mn-investments-in-plays-on-egypts-growing-gold-industry\/\",\"name\":\"Two European firms mull USD 270 mn investments in plays on Egypt\u2019s growing gold industry - 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We hope you each get the love, appreciation, and recognition you deserve today. THE BIG STORY TODAY Two foreign companies have submitted investment proposals worth a combined USD 270 mn to set up sodium\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":654321,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/31\/sidpec-to-set-up-a-usd-159-mn-sodium-cyanide-factory-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\/","url_meta":{"origin":617527,"position":1},"title":"Sidpec to set up a USD 159 mn sodium cyanide factory + DP World to look into setting up a freezone in the new capital","author":"enterpriseam admin","date":"31 October 2024","format":false,"excerpt":"Sodium cyanide is the solution commonly used for gold extraction","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/539.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619159,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/28\/chinese-steel-factory-opens-in-sczone-plus-elaraby-and-taiwanese-company-to-build-ac-factory-public-enterprise-ministry-mulls-mineral-extraction-project\/","url_meta":{"origin":617527,"position":2},"title":"Chinese steel factory opens in SCZone. PLUS: Elaraby and Taiwanese company to build AC factory, Public Enterprise Ministry mulls mineral extraction project","author":"enterpriseam admin","date":"28 April 2024","format":false,"excerpt":"The factory has an annual production capacity of 25k tons of steel structures","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1883.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619093,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/24\/this-evening-interest-in-sodium-cyanide-gaining-traction-as-austrias-petrochemical-holding-company-and-czech-company-draslovka-are-planning-to-jointly-establish-a-sodium-cyanide-facility-in\/","url_meta":{"origin":617527,"position":3},"title":"THIS EVENING: Interest in sodium cyanide gaining traction as Austria\u2019s Petrochemical Holding Company and Czech company Draslovka are planning to jointly establish a sodium cyanide facility in Egypt","author":"enterpriseam admin","date":"24 April 2024","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and happy Wednesday. In today\u2019s issue, we\u2019ll be talking about Discord and whether TikTok\u2019s restrictions on influencers promoting Ozempic is harming the diabetes community that uses the medicine. In case you\u2019ve forgotten, we\u2019re in line for a long weekend starting tomorrow. The public, private, and\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/1235.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596092,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/dana-gas-could-get-parliaments-signoff-on-new-wells-this-year\/","url_meta":{"origin":617527,"position":4},"title":"Dana Gas could get parliament\u2019s signoff on new wells this year","author":"enterpriseam admin","date":"10 August 2023","format":false,"excerpt":"Collections from Egypt dropped in the first half of 2023","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/496.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":658297,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/09\/shalateen-to-relaunch-gold-tender-after-original-offers-fail-to-meet-required-criteria-plus-sidped-korra-energi-sidpec-petrochemicals-holding-company-draslovka-jaz-hotel-group\/","url_meta":{"origin":617527,"position":5},"title":"Shalateen to relaunch gold tender after original offers fail to meet required criteria. 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