Egypt extends deadline for gold mining exploration bid
The Shalateen Mineral Resources Company (SMRC), a state-owned entity in Egypt, has extended its bid round for the exploration and exploitation of gold in the Eastern Desert by three more months.
The new deadline for submissions is set for November 9th. This extension is intended to promote fair competition among interested companies and attract international investment into Egypt’s mining sector. SMRC launched the global bid to explore and exploit gold and associated minerals in five regions of Egypt’s Eastern Desert.
Mining exploration
This bid is part of the company’s efforts to tap into the potential mineral wealth of the region. Established in 2012, the Shalateen Mineral Wealth Company focuses on exploring and exploiting gold and other ores in specific geographical regions of Egypt’s Eastern Desert governorate, covering latitudes 22 to 24 degrees north. Experimental production began at the Iqat gold mine located in the southern part of the Eastern Desert. This mine, alongside Sukari and Hammash, contributes to Egypt’s gold production.
Egypt has three active gold mines in production; Sukari, Iqat, and Hammash. Sukari is the largest among them and has been producing gold since 2009. It has substantial gold reserves and has been operated by UK-based gold mining company Centamin.
