Is Egypt encouraging investments in gold mines?

There are two companies operating in the production of gold in Egypt: Australias Centamin in Sukari mine and Cyprus Mats Holdings in Hamash gold mine. The Egyptian Mineral Resources General Authority (EMRA) obtains 51% of the profits, after the company recovers the investment costs, and a 3% royalty from Hamash, while it obtains 55% of the profits and a 3% royalty from Sukari.

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Mining industry of Egypt Wikipedia

Mining in Egypt has had a long histories that goes back to predynastic times. Egypt has substantial mineral resources, including 48 million tons of tantalite, 50 million tons of coal, and an estimated 6.7 million ounces of gold in the Eastern Desert. The total real value of minerals mined was about £E102 million in 1986, up from £E60 million in 1981. The chief minerals in terms of volume output were iron

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A new classification of the gold deposits of Egypt

Introduction The Eastern Desert of Egypt is well known as a goldmining area since ancient times and more than 90 gold deposits and occurrences are spread over the whole area covered by the basement rocks of Precam brian age (Fig. 1). Records of mining for gold range back to predynastic times and mining activity contin ued at different periods.

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