Mining News
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Central Bank of Egypt’s gold holdings increase by 6% in October
The gold holdings of the Central Bank of Egypt (CBE) increased by 6 percent to EGP 249.64 billion ($8.08billion) in October from EGP 235.64 billion.
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The “Zero Customs” Initiative Ended, Citizens Imported 3.3 Tons of Customs-free Gold Within 6 Months
Last May, Prime Minister Dr. Mostafa Madbouly issued a decision to exempt gold imports from customs taxes and other fees. This decision expired.
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Dahab Masr, Kash Now to offer gold purchasing online
Dahab Masr has entered into a strategic partnership with Egypt-based digital payment provider Kash Now to facilitate gold purchasing through the app.
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Egypt extends zero-custom gold import initiative by another 6 months
The Egyptian Cabinet approved on a Wednesday meeting extending the zero-custom initiative for gold imports by Egyptians abroad for six months.
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Egypt to launch 1st electronic auction for gold and silver next week
The Assay and Weights Administration (AWA) of Egypt is planning to hold its first electronic auction for gold and silver.
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Egypt eyes mining investment in new strategy
The strategy that was chalked out by the Petroleum and Mineral Resources Ministry will focus on maximising Egypt’s mineral wealth.
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Aton drills further high-grade gold mineralisation at Egypt project
Twenty-one holes were drilled at the Semna prospect, for a total of 3 662 m, during the recently completed RC drilling programme.
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Egypt Bans Gold Trade for Unregistered Entities
The decision also obliges the addressees to notify the Stamps and Scales Authority of any changes or modifications to their activity data.
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Expectations of an increase in global demand for metals by 2040: IDSC
The report indicated that renewable energy has grown at a rapid pace over the past two decades, reaching its highest values in 2022.
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Central Bank of Egypt’s gold holdings decline 2.8% in September
The gold holdings of the Central Bank of Egypt (CBE) declined by 2.8 percent to EGP 235.64 billion ($7.64 billion) in September from EGP 242.42 bn.
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Gold prices in Egypt soar amid regional tensions, currency woes: Gold Bullion
Gold Bullion attributed the local gold price hikes to the anticipation of more escalation in the Middle East region.
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EBRD Invests in Egyptian Copper Rod Manufacturing
The European Bank for Reconstruction and Development (EBRD) is providing a $50 million loan to United Metals Company (UMC).
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Central Bank of Egypt eases export rules for gold artefacts
The Central Bank of Egypt (CBE) revised the deadline for transferring the export proceeds of gold artefacts to banks from 7 days to 30 days.
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Centamin plans to increase Sukari's gold production by 15 percent until 2032
Global gold mining company Centamin announced a plan to increase the production of Egypt's Sukari mine by 14.74 percent to 506,000 ounces for 9 years.
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Egypt seeks new investments for phosphate projects
Egypt is currently ranked the world’s 10th largest raw phosphates producer and that new reserves estimates could be released this year.
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Aton Resources drills 14.63 g/t gold over 12 metres at Abu Marawat, Egypt
Eight out of the nine holes targeting the Main Vein zone intersected moderate to high-grade gold mineralization.
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Top 10 mining companies in Egypt
Egypt has substantial mineral resources, including coal, gold, iron ore, heavy mineral sands, manganese, nitrogen, and phosphate rock.
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These are the 5 best times to invest in gold
When it comes to investing in precious metals, buying gold has long been considered a safe-haven asset.
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Egypt's zero-customs gold import initiative brings 1.5 tons in 4 months
Around 1.5 tons of gold have entered the Egyptian market since the start of the zero-customs gold import initiative in May.
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Aton Resources takes first step to secure mining licence in Egypt
Aton is aiming to develop the next Egyptian gold mines at Abu Marawat, located approximately 200 km north of Centamin's world-class Sukari gold mine.