Egypt extends deadline for gold mining exploration bid in Eastern Desert until November

The decision aims to ensure fair competition among all interested companies and encourage international companies to invest in Egypt's mining sector, as stated in an official statement by SMRC.

Earlier in April, SMRC initiated a global bid to explore and exploit gold and associated minerals in five regions of the Eastern Desert; the first bid was in 2023.

Minister of Petroleum and Mineral Resources Tarek El-Molla announced in July that Egypt would launch a group of tenders in the mining sector for resources, including precious metals, phosphate, sulfur, and potash, scheduled to take place between July and September 2023.

Shalateen Mineral Wealth Company was established in 2012 to explore and exploit gold and other ores between latitudes 22 to 24 degrees north in Egypt's Eastern Desert governorate.

In March, El-Molla announced that Egypt had started experimental production at the Iqat gold mine in the southern part of the Eastern Desert.

Iqat is one of three Egyptian gold mines in production alongside Sukari and Hammash.

Sukari, the largest among them, has produced over 5 million ounces of gold since it began production in 2009, and today has 6 million ounces in gold reserves, according to UK-based gold mining company Centamine, the mine’s operator.

Hammash is operated by Hammash Misr, a 50-50 joint venture between the Egyptian Mineral Resources Authority (EMRA) and Cyprus-registered Matz Holdings.