Egypt expected to produce 8 tons of gold next year

After the success of the 1st International Bid-Round for gold exploration in Egypt, which was offered in July 2006 and resulted in signing six agreements with international companies to explore and produce gold, the Egyptian Mineral Resources Association (EMRA) is currently finishing the procedures of offering new gold exploitation and mineral resources Bid-Rounds.
A report which Minister of Petroleum Eng. Sameh Fahmy has received from Hussien Hamouda, Chairman of the Egyptian Mineral Resources Association clarified that gold production has reached about 7 tons during the past century, whereas, the expected production next year will be about 8 tons which is bigger than what had been produced allover the 20th century.
The Report referred that the expected increase in production is due to the new policy which is currently being executed in Mineral Resources Sector, which made it an attractive sector for international companies and one of the basic sources to increase   Egypt’s resources of foreign currencies and providing new job opportunities.



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