CBE's gold reserves decline by $210M during April

Tue, 10 May 2022 - 11:03 GMT

According to Central Bank data published on its website, the value of gold recorded in foreign exchange reserves amounted to about $7.597 billion at the end of last April, compared to about $7.807 billion at the end of March.

Egypt largest buyer of gold in world

Mon, 09 May 2022 - 08:02 GMT

The Central Bank of Egypt (CBE) bought 44 tons of gold last February, bringing its total holdings by 54 percent and up to 125 tons, which is equivalent to 17 percent of the total Egyptian reserves.

Goldsmiths deny rumor of closing gold market in Egypt

Sun, 08 May 2022 - 10:05 GMT

The Goldsmiths Division, in an official statement, denied what some news websites circulated about stopping the gold market in Egypt, and also denied the cessation of buying and selling movements in Egypt.

Gold prices in Egypt rises to historical level, 21-carat gold reaches LE1K

Mon, 21 Mar 2022 - 04:37 GMT

The price of 24-carat gold recorded LE 1,147 per gram, while the price of 18-carat gold hit LE 857 per gram.

Gold prices in Egypt up, Gold gram 21k hits LE 852

Thu, 24 Feb 2022 - 12:52 GMT

Gold Gram 21K rose by LE 20 to stand at LE 852, while gold gram 18K recorded LE 730 and gold gram 24K LE 974.

Memory of the day: Egypt's Supreme Military Court holds its 1st session in Cairo since the July 1952 revolution

Mon, 16 Aug 2021 - 11:28 GMT

On August 16, many important events took place.

Egypt signs 4 contracts with 2nd largest gold exploration company in world

Tue, 27 Jul 2021 - 01:42 GMT

The Egyptian Minister of Petroleum, Tarek El Molla, witnessed the signing of 4 contracts to search for gold between the Mineral Resources Authority and the Canadian Barrick Gold Corporation, with a total investment estimated at $8.8 million.

Egypt's profits from Sokary Gold Mine over past decade are $550M

Tue, 13 Jul 2021 - 12:09 GMT

Currently, the company is working towards the target of producing 400,000 and 430,000 gold bars by the end of 2021.

Egypt signs 4 new contracts for gold, minerals exploration with investments of $17M

Mon, 12 Jul 2021 - 01:27 GMT

The number of companies that signed contracts for the first round of global bidding No. 1 of 2020, which was put forward by the ministry, becomes 10 international and local companies, and the total signed contracts becomes 20 contracts for research in 56 sectors, with investments exceeding $47 million, according to petroleum ministry’s statement issued, Monday.

Egypt's production of gold records 14.1 tons in 2020

Sat, 03 Jul 2021 - 06:32 GMT

Egypt’s production of the yellow metal in 2020 amounted to 14.1 tons, ranking 36th in the world among the list of major producers which included 43 countries, the World Gold Council revealed Saturday.

Egypt’s City of Gold

Fri, 07 May 2021 - 11:11 GMT

Officials and merchants reflect on the national megaproject, set to establish a fully integrated city for the manufacture and trade of gold in Egypt.

Attempt to smuggle 7 gold, metal detectors into Egypt thwarted

Tue, 23 Mar 2021 - 12:11 GMT

The passenger was involved in a smuggling attempt in 2019.

Egypt signs 10 new contracts to search for gold, with investments exceeding $ 11M

Wed, 17 Feb 2021 - 04:16 GMT

The Ministry of Petroleum said in a statement, Wednesday, that the contracts included signing four contracts with AKH Gold, a company affiliated to Egyptian businessman Naguib Sawiris, with a total investment of about $ 4.1 million to search for gold in nine sectors in the Eastern Desert.

Egypt signs 5 contracts for gold exploration with investments of $13 million

Thu, 21 Jan 2021 - 12:15 GMT

The contracts were signed between the Egyptian General Authority for Mineral Resources and Canadian and Egyptian companies.

Egypt will establish city for gold industry

Sat, 16 Jan 2021 - 04:22 GMT

President Sisi asked for providing all financial resources to establish the city with the international and modern standards and technologies to reflect Egypt's ancient civilizational history.

Egypt, Nigeria agree to exchange information on mineral extraction

Mon, 23 Nov 2020 - 11:08 GMT

In a similar context, the spokesperson added that the ministry had invited tenders for a gold mining opportunity in Egypt.

Petroleum min.: 11 companies won gold exploration bid in Eastern Desert

Thu, 19 Nov 2020 - 11:53 GMT

11 mining companies won a gold ore exploration bid on an area of about 170 km2 in the Eastern Desert and the Red Sea.

Egypt uncovers 28 gold dinars dating back to Abbasid era in Fayoum

Fri, 13 Nov 2020 - 02:30 GMT

A collection of 28 gold dinars as well as five small coins were discovered in Fayoum by Egyptian-Russian archaeological mission.

Gold rises to two-week high as dollar falls

Tue, 01 Sep 2020 - 01:56 GMT

Spot gold went up 0.8%, recording $1,985.64 per ounce after hitting its highest since August 19 at $1,989.42 earlier in the session.

Centamin's profits surge 221% during H1 of 2020

Tue, 04 Aug 2020 - 02:38 GMT

The company said in a statement Tuesday, that it achieved a pre-tax profit of $ 191.14 million, compared to $ 59.62 million in the first half of 2019.