Egypt Daily News – Ahmed Al-Wakil, President of the General Federation of Chambers of Commerce, said that Egypt’s gold exports exceeded $2.9 billion to 37 countries, including 15 countries to which it had not previously been exported to, through an effective partnership between the government and the private sector.
He confirmed that Egypt produces more than 15.8 million tons of gold from the Sukari 1 and 2 mines, and that this quantity will increase with the Golden Triangle project in the Eastern Desert, in addition to offering 38 plots of land with an area of 12 thousand square kilometers to the international private sector.
He added, during his speech at the opening of the Gold and Jewelry Exhibition and Conference “NEBU” in its fourth season, that a study is currently being completed to establish the first gold refinery in Egypt to purify gold ore and adopt the international seal 9999 at a cost of 100 million dollars.
He continued: The refinery will purify gold extracted from Egyptian mines, in addition to gold ore extracted from the Middle East and Africa, to be an alternative to the refineries of Switzerland and Canada, and to transform Egypt into a global logistical center for gold.
He explained that to revive this industry, the government implemented a legislative and procedural revolution that succeeded in returning Egypt to its position as one of the leading countries in this field.
He pointed out that our goal is not to export gold only, but rather to maximize the added value through manufacturing with Egyptian hands. The City of Gold is currently being built on an area of 150 acres in the New Administrative Capital, which will include 400 technical workshops for gold production and 150 educational workshops, in addition to an educational industrial school.
He continued: This city will be integrated with the technical school for gold and jewelery “Egypt Gold for Applied Technology” in Obour, which operates on a dual education system. We must also not forget that the size of the global market for jewellery has exceeded 228 billion dollars annually, and is expected to exceed 307 billion dollars by the year. 2026, so we must work together, government and private sector, to enhance Egypt’s share of this market.
