CAIRO - 18 February 2024: State-owned Shalateen Mineral Resources Company (SMRC) increased its gold deliveries to the Central Bank of Egypt by about 14 percent on an annual basis in 2023 to about 720 kilograms of gold, worth EGP 1.3 billion. This came in media statements made by an unnamed government official.
The company announced that it will deliver a ton of gold with a purity of 99.9 percent by the end of this year to the Central Bank of Egypt. This marks an increase of 40 percent deliveries than 2023.
SMRC announced in November 2023 that it will extend its bid for exploration and exploitation of gold and associated minerals to March 7, 2024. The extension came in efforts to encourage international companies to invest in the mining field in Egypt.
In July 2023, the company expected to increase its gold deliveries to the Central Bank of Egypt by about 32 percent during 2023 compared to the previous year, to reach 830 kilograms of gold.
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