Egypt .. A close-up of gold production from the commercial discovery in the desert “Iqat”

The Egyptian Minister of Oil and Mineral Resources, Ing. Tarek El Molla, chaired the meeting of the first general meeting of the Iqat Gold Mines Company, which is responsible for the development of the commercial discovery of Iqat, obtained with pure Egyptian commitment.

El Molla announced, according to a press release, the launch of an ambitious plan to initiate advance production of commercial gold exploration in thearea of Iqat in the eastern desert of Egypt during the next period in light of the high prospects for the rate of gold mining. Concentration media of gold is 1.5 grams per ton.

The discovery that was made inarea of Iqat is promising, and heralds positive results that increase Egyptian gold production, in light of the presence of an estimated reserve in over a million ounces of gold at a minimum, and with total investments above the barrier of billions of dollars.

The discovery is also the result of a purely Egyptian investment in the field of exploration and exploitation of gold through the Egyptian Shalateen Company, which is witnessing a fruitful partnership and fruitful collaboration between different state sectors. the Hamash Egypt Company for Gold Mining.

Al-Mulla added that the launch of the company’s first meeting is one of the fruits of the Ministry of Petroleum and Mineral Resources program to develop and modernize the mining sector to increase its contribution to the national product. clear vision for the new company to be in its system and results of its work, and the exploitation of accumulated national experiences, the commitment of the Mineral Resources Authority and partners and constructive cooperation with state authorities and the development of the community surrounding thearea in concession, to establish a successful model to follow in the mining sector.

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