By Rédaction Africa Links 24 with Egypt Independent
Published on 2024-01-18 11:19:26
The advisor to the Egyptian Minister of Supply for Gold Industry affairs, Naji Farag, made an announcement regarding the discovery of a new gold mine in the Abu Marwat area. Situated in the Eastern Desert of Egypt, the mine is believed to hold a strategic reserve of up to 290,000 tons of gold.
Farag expressed his optimism about the potential of the Abu Marwat mine, stating that it is one of the most promising gold mines in Egypt and is expected to have a positive impact on the economy by generating revenue and creating job opportunities. He also mentioned that exploration companies are actively working in the area, with significant interest from global companies in the field of gold exploration.
The discovery of the Abu Marwat mine represents a crucial milestone for the Egyptian gold industry, highlighting the country’s growing appeal as a destination for gold exploration and mining. This development is seen as a positive sign for Egypt’s economic prospects and is expected to bring about favorable outcomes for the nation.
Farag’s announcement has generated considerable interest and excitement within the industry, as it signifies the potential for further growth and development in Egypt’s gold sector. The newfound mine has the potential to significantly contribute to the country’s gold reserves and play a pivotal role in shaping the future of the Egyptian gold industry.
With the discovery of the Abu Marwat mine, Egypt is poised to strengthen its position as a key player in the global gold market. The news has sparked enthusiasm among industry experts and stakeholders, who view this development as a testament to the country’s untapped potential in the gold industry.
Overall, the discovery of the Abu Marwat mine marks a significant milestone for the Egyptian gold industry, with promising prospects for growth, investment, and economic prosperity. It is a clear indication of Egypt’s emergence as a prominent player in the global gold market, making it an attractive destination for gold exploration and mining activities.
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