Egypt

Shalateen Mineral Resources co announces a new commercial gold disclosure

Published on : 2020-06-30


Engineer Tariq Al Mulla, Minister of Petroleum and Mineral Resources, announced the achievement of a commercial disclosure of gold in the Iqaat region in the eastern Egyptian desert, with a reserve estimated at more than a million ounces of gold with 95% recovery rate, which is one of the highest rates of extraction, and with a total investment over the next ten years, more than one billion Dollars.


It is noteworthy that the new discovery is located in the concession area of ​​the Shalateen Mineral Resources Company, while the Wealth and Resources Mining Company undertakes exploration services in the region in accordance with its contract with the Shalatin Company.

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