The Egyptian Mining Company (EMC) plans to invest $40 million over the next three years to explore gold in West Jebel Elba. The company aims to complete the commercial declaration in Shalateen by July 2025. Australian company Centamin also plans to invest $100 million in Egypt during 2025.

Data indicates that gold reserves at the Sukari mine exceed 5.5 million ounces. Several factors are helping to attract investments in the gold sector, including an increase in gold prices by about 17% since the beginning of 2024, approaching their all-time high, improved political stability in Egypt, and infrastructure development that facilitates investment in mining.

The Egyptian government is intensifying its efforts to attract investments to the mining sector, aiming to attract $1 billion by 2030. It also aims to increase gold production to 800,000 ounces by 2030, as Shalateen Mineral Resources Company expects to increase its deliveries to the Central Bank by about 60% in 2024.

The Egyptian Phosphate Company plans to increase production by 15% during the year to reach 4.5 million tons. Egypt is also signing new cooperation agreements in the field of mining, aiming to benefit from mutual expertise and maximize investment in this vital sector.