The total gold production of Shalateen Mineral Resources Company (SMRC)  from the Iqat mine has increased to more than 900 kilograms during 2024. The increase is attributed to adopting the artisanal and small-scale mining system (ASM)—a framework that regulates individuals and small groups extracting minerals with limited tools and machinery, according to chairman Hany Mustafa. He highlighted the main SMRC’s performance indicators for the year during the company’s general assembly, chaired by Minister of Petroleum and Mineral Resources Karim Badawi. Mustafa also revealed that the company aims to increase production to about 6 tons within five years.

SMRC is implementing the Dahmit Industrial Complex project in Aswan, spanning 1,422 feddans, with the aim of ending informal drilling and exploration activities and scientifically managing all mining activities in the area in an environmentally friendly manner.

Additionally, studies are ongoing in cooperation with AFAQ Mining Company to increase and confirm gold and mineral reserves in the West Gebel Elba area by more than 300,000 ounces, in preparation for announcing a new commercial discovery.

SMRC is an Egyptian joint-stock company established in 2012 to advance gold and mineral exploration and production in Egypt.