The Ministry of Petroleum and Mineral Resources in Egypt announced significant progress in geological studies to confirm new reserves of gold and associated minerals in the west Elba Mountain area within the Halayeb and Shalateen Triangle.
The ministry revealed that estimated reserves in this area exceed 300,000 ounces of gold, in preparation for announcing a new commercial discovery that will strengthen Egypt’s position as a promising investment destination in the mining sector.
This discovery is expected to contribute to strengthening the Egyptian economy by increasing exports and creating new job opportunities.
It comes as part of the Egyptian government’s efforts to modernize the mining sector, following legislative amendments introduced in 2020 to facilitate the attraction of foreign investors.
Work is being conducted in cooperation with Afaq Mining Company, one of the leading companies exploring and developing mineral resources in Egypt.
The ongoing studies include accurate analyses to determine the size of reserves and recovery rates, paving the way for the development of a new mine in the area.
This discovery is part of Egypt’s strategy to boost its mining sector. The country seeks to attract foreign investments amounting to US$375 million over the next two years, with direct investments expected to increase to $1 billion by 2030.
The Elba Mountain area is located within the Elba Nature Reserve, one of the largest and most important nature reserves in Egypt, with a total area of 35,600 square kilometers.
The reserve extends across the southeastern corner of the country, within the Halayeb and Shalateen Triangle, an area rich in biodiversity and natural resources.
The region is known for its rugged mountainous terrain and promising mineral deposits, making it a prime target for gold and other mineral exploration activities.
This area is part of Egypt’s Eastern Desert, which has witnessed significant findings such as the 2020 discovery of the Ikat mine, which contains reserves estimated at approximately 1.3 million ounces of gold with investments exceeding US$300 million to date.
Egypt also launched international tenders for gold exploration in the Eastern Desert, covering an area of up to 56,000 square kilometers.
