cairo- 2 -2-2023
The Iqat mine in the eastern desert of Egypt witnessed the first gold ingot being cast from the mine yesterday. It was also officially announced that gold production had started from the mine, which was discovered in June 2020.
Today, Iqat Company mined the first gold ingot from the mine, weighing less than a kilogram, with pure Egyptian hands and efforts. This is after more than two years of continuous work on the site since the official announcement of the commercial discovery, which is estimated at more than 1 million ounces as a minimum reserve, with a concentration of up to 1.5 grams of gold per ton. He participated in the event today, which was followed and supported by Eng. Tariq Al-Mulla, Minister of Petroleum and Mineral Resources. Mineral wealth leaders, members of the mine inspection, who signed the export and foundry minutes
Engineer Tariq Al-Mulla had announced the launch of an ambitious plan to start early production from the commercial discovery of gold in the Iqat region in the eastern desert of Egypt during the coming period in light of the high possibilities of the rate of extraction of the discovery gold. Where the average concentration of gold is 1.5 grams per ton.
The discovery made in the Iqat area is considered promising. It promises positive results that will increase Egypt’s production of gold. In the presence of reserves estimated at more than a million ounces of gold at a minimum, With total investments exceeding one billion dollars, It is also a product of pure Egyptian investment in the field of gold exploration and exploitation through the Egyptian Shalateen Company, which is witnessing a successful partnership and fruitful cooperation between a number of sectors of the state. Thus, Iqat will be the third company in Egypt to extract gold and associated minerals. Where the Sukkary Gold Mines Company and the Hamash Misr Gold Mines Company are currently operating
