The Egyptian government, in collaboration with the Shalatin Mineral Resources Co (SMRC), a mining company, is establishing gold complexes in the eastern desert. These complexes aim to increase gold productivity from scattered reserves owned by individuals and companies. The first complex, with an estimated investment cost of $8 million, will be built near Aswan Governorate on a 6 million square meter area.
The governmental Engineering Co. for Petroleum and Chemical Industries is overseeing the design and implementation of the complex. Egypt produces approximately 15.8 tons of gold annually and aims to invest $1 billion in the mining sector by 2030. During the recent gold exploration bid, four local and international companies, including Ankh Resources and Aach Gold, were selected as winners.