Egypt's Gabal al-Sokkary mine project is an important step for both the mining and gold industries, Minister of Petroleum Sameh Fahmi said in an Egyptian Television interview Sunday.
According to Fahmi, the mine will benefit the gold trade while promising a better future for the mining industry in general.
Even though the project suffered several mishaps at its onset, officials have turned the mine into an efficient operation, according to Fahmi.
Mineral resources in Egypt have not been exploited properly in the past, added the minister. The last time Egypt produced gold was in 1958. Moreover, the country's total gold production between 1902 and 1952 amounted to an estimated seven tons, he said.
Fahmi said Egypt has produced 56 kilograms of gold since 1958. Since January, 3.5 tons of gold and silver–the total worth of which is LE700 million–have been produced.
Translated from the Arabic Edition.
