Egypt's sales of gold, silver in 8 years worth $5.3B

The Ministry of Petroleum and Mineral Resources revealed Thursday that the sales of gold and silver recorded $5.3 billion between 2014 and 2022.

The Australian company Centamin, which is operating the Sukari gold mine in Egypt, said that there has been an increase in the Sukari gold mine reserves by about 1.3 million ounces, which represents the largest increase in the reserves in 10 years.

The company added, in a statement published on its website, that the growth of the mine reserves represents an increase of 13 percent in proven and probable the mine reserves, to reach 11.11 million ounces at the end of June 2022, compared to 9.81 million ounces at the end of June 2021.

The company said that since the start of production in 2009, the Sukari mine has produced more than 5 million ounces of gold, and today the expected life of the mine is 14 years.