Mining News
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Gold suffers worst weekly drop in 3 years
Gold prices plunged significantly, losing more than $220 from its all-time high recorded last month.
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Egypt aims to boost mining sector’s GDP share from 1% to 6%
The mining sector aims to increase its contribution to Egypt’s Gross Domestic Product (GDP) from the current 1% to 5-6%.
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All about Aton Resources’ new gold processing plant
In sum, Aton Resources is not only advancing gold mining in Egypt but also redefining what responsible mining could look like in the 21st century.
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Egypt's aims to boost mining sector contribution to 5-6% of GDP
The minister emphasized Egypt’s goal to transform its mining sector, noting its current contribution of approximately 1 percent to the national GDP.
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Egypt’s balance of gold in foreign reserves at US$ 11 billion
The CBE said that this balance was at US$9.384 billion, equivalent to about LE448 billion, at the end of April, and the increase is about LE 101 bln.
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Egypt to Launch Gold Exploration Bid
The bid round will cover over 200 areas in the region, with the aim of attracting international mining companies and investors.
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Minerals come into focus as Egypt wrestles with oil reforms
The country plans to launch the website early in the first quarter of 2025, Badawi said.
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Egypt gold prices jump 1.2-1.9% on Tuesday
On Tuesday, global gold prices increased by 0.22 percent compared to Monday, reaching $2,743 per ounce, according to Gold Price.
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Centamin's shareholders approve its acquisition by AngloGold Ashanti
Gold mining company Centamin's shareholders have approved the company’s acquisition by South Africa's AngloGold Ashanti, with 98 percent.
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Gold breaks above $2,700 to record high
Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty.
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6 key facts about the Sukari gold mine
The Sukari Gold Mine stands as a vital asset in Egypt’s mining sector, contributing to local employment and economic stability.
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AngloGold’s $2.5bn takeover of Centamin approved by Egypt
The deal would make the South African gold miner the world’s fourth largest producer of the precious metal as it hands it the key to the Sukari mine.
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Gold Prices Surge, 21-Karat Gold Reaches EGP 3,600
Meanwhile, the global price of gold closed at $2,657 per ounce, achieving a weekly gain of $1, or 0.2%.
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Egyptians invest EGP 925 mln in gold investment funds
A total of 131,000 Egyptians have invested in state gold investment funds, totalling EGP 925 million since their launch.
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Global investors rush to enter Egypt’s mining sector
Recent developments highlight Egypt's strategic efforts to enhance cooperation with global partners and expand its mineral resource abilities.
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AngloGold to acquire Centamin for $2.5 billion
AngloGold Ashanti will acquire Centamin, a leading global gold mining company, in a deal worth of $2.5 billion, the board of AngloGold announced.
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Egypt, China ink contract to produce Bromine Ore at SCZone
Egyptian Prime Minister Moustafa Madbouly witnessed the signing of a $110 million investment contract on the sidelines of the Forum on China–Africa.
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Gold Prices Surge by EGP 290 Since the Start of 2024
At the beginning of 2024, a gram of 21-karat gold was priced at EGP 3,175. In January, it peaked at EGP 4,200.
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Egypt Digs Deeper: Modernizing The Mining Industry
This comes as different ministries are working hand in hand to ensure the sustainability of the mining sector and ensure that it meets climate action.
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Egypt's gold: From a cultural legacy to an economic shield
Gold continues to play a crucial role, not just as a symbol of wealth but as a strategic financial asset amidst economic uncertainties.