File Photo: Gold bars. Al-Ahram
The plant would use the carbon-in-leach (CIL) process to treat gold-bearing rocks.
Egypt initiated experimental production at the Iqat gold mine in the Eastern Desert, located in the southern part of the country, in 2023.
The announcement followed a meeting between Petroleum Minister Karim Badawi and company officials to review development plans and future expansions at the concession site.
During the meeting, the company presented updates on projects aimed at placing the mine on the global gold production map, including plans for new power generation and water facilities, supported by Australian expertise.
Minister Badawi expressed his full support for the company’s efforts to speed up production, in coordination with the Egyptian Mineral Resources Authority and the wider mining sector.
The news followed the Africa Down Under (ADU) Mining and Energy Conference in Perth, Australia, the largest African mining event held outside the continent, which concluded on Friday.
Egypt officially participated in the conference for the first time, with a delegation led by the petroleum minister. The participation aimed to promote the country’s updated mining investment climate, attract Australian investors, and showcase reforms to licensing procedures and regulations.
On the sidelines of the conference, Badawi met with nine Australian mining companies and institutions to present opportunities in exploration and production in Egypt.
He emphasized the government’s commitment to fostering a competitive environment for investors through legislative and regulatory reforms that align with global standards. He also encouraged small- and medium-sized mining companies to take part in developing new legislation.
In related news, Minister of Foreign Affairs Badr Abdelatty and Badawi met Cypriot President Nikos Christodoulides in Cyprus on Friday to discuss energy and gas cooperation.
Talks focused on linking Cyprus’s Cronos gas field to Egypt’s infrastructure, with significant progress reported on plans to start receiving gas in Egypt for re-export to European markets by 2027.
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