Mining News
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Egypt gold jewellery demand rose 2% in 2Q 2024
This occurred after prices decreased when the currency situation improved following the IMF loan, according to the WGC report.
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7 Facts about Egypt's new mining portal
Egypt is planning to digitize part of its mining industry with the launch of a new digital platform, "Egypt’s Mining Portal," by the end of 2024.
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Egypt to launch online platform to boost mining industry
Egypt is set to launch a digital platform titled “Egypt’s Mining Portal” by the end of 2024 to serve as a primary catalyst for mining investment.
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No new customs duties on gold imports
The Egyptian Customs Authority (ECA) denied in a statement on Tuesday imposing new customs duties on gold imports by Egyptians returning from abroad.
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Centamin CEO Projects 5 Million Ounces of Gold Extraction in Egypt Over Next Decade
Egypt is competing with several countries to attract investments to its mining sector due to its political and security stability.
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Gold Prices Increase, 21-Karat at EGP 3250
Gold prices witnessed an increase by EGP 5 in the local markets during today’s trading, as a gram of 21 karat gold recorded EGP 3250.
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Economist: Gold will become the new reserve asset by 2030
Over the past few decades, the United States has tended to export Treasuries and reduced the export of everything else, and that is what is changing.
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Aton Resources Strikes High-Grade Gold in Egypt
Aton Resources Inc. has reported promising results from its latest surface sampling at Abu Marawat Concession, Egypt.
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Egypt's Gold Reserves Climb to EGP 456 Billion
In addition, the Central Bank recently announced that Egypt's net foreign reserves stood at $46.125 billion at the end of May 2024.
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Egyptian gold investment funds: A growing opportunity
These funds offer non-traditional investment opportunities for Egyptian citizens, allowing them to preserve the value of their savings.
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Number of Egyptian citizens investing in gold funds surges to 108,808
The FRA is currently considering the possibility of launching a third fund in collaboration with one of the National Bank of Egypt’s companies.
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Shalateen Mineral Resources to launch international gold prospecting tender in Q4
Wadi Allaqi area will be divided into five gold prospecting sites, to be offered to local and international companies, the official pointed out.
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Jewellery, bullion demand in Egypt shrinks by 17% in 1Q of 2024 as prices rise: WGC
On the other hand, the report showed that bullion demand in Egypt decreased by 36 percent in the 1Q of 2024 to reach 5.2 tons.
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Egyptians brought 4.6 tons of gold from abroad in a year
There is no final decision yet regarding whether or not to extend the initiative to exempt gold imported for personal use from customs after 10 May.
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Egypt’s FRA & World Gold Council Launch Gold Fund Initiatives
Dr. Farid added that these funds also provide a hedge against price volatility through participation in a structured and secure investment.
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World Gold Council confident in Egyptian gold market as a significant regional market
Highlighting exceptional quality and esteemed reputation of Egyptian gold artifacts, Naylor stressed on increasing efforts to boost Egyptian market.
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Egyptian gold investment funds witness about 103K investors
The combined number of people who invested in two gold investment funds has reached approximately 103,000 by the end of March 2024.
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Kaolin's reserves in Egypt reach 200 mln tons
Kaolin, or China Clay, as it is commonly called, is a type of fine, white, soft rock; its reserves in Egypt reach about 200 million tons.
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Sinai Manganese resumes production with revitalised furnaces
Following extensive restoration and modernization efforts, the furnaces have resumed activity, overcoming previous production challenges.
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Russian Company Aims to Invest $1 Billion in Egypt's Mining Sector
The Russian company "Infinity" intends to pump investments into Egypt in the mining sector of about $1 billion.