Egypt intends to launch its first global auction for gold exploration in 2023 tomorrow, Friday, in five areas of the Eastern Desert through the "Shalatin for Mineral Resources" company. The auction will continue until August 10. According to a document reviewed by "Economy of the East," the areas designated for exploration in the Eastern Desert are: "Fatiri," "Al-Baramiya," "Aqad," "Um Awd," and "Hamata."
The Egyptian Mineral Resources Authority owns 35% of the company, while the National Service Projects Organization, affiliated with the Ministry of Defense, holds 34%, the National Investment Bank owns 24%, and the Egyptian Resources Company possesses 7%.
Egypt is intensifying efforts to increase investments directed towards the mining sector, particularly gold, aiming to invest one billion dollars in the mining sector by 2030.
